Filipino fintech Voyager Innovations hits unicorn status with $210m raise
Voyager Innovations, the fintech company behind the Philippines’ end-to-end money platform PayMaya and neobank Maya Bank, has raised $210 million.
The new funding has seen the firm hit unicorn status, boosting its valuation to nearly $1.4 billion.
The round was led by new investors SIG Venture Capital with participation from Singapore-based EDBI and investment holding company First Pacific.
A number of Voyager’s existing shareholders also contributed to the round, including PLDT, KKR, Tencent and IFC.
Voyager entered the digital banking space with Maya Bank after securing a banking licence in September 2021 and commenced pilot testing in March 2022.
The company says it will use the funds to launch new services for the neobank such as savings and credit offerings, which the firm plans to offer across PayMaya’s platforms for consumers and enterprises.
The company is also planning to offer new products through PayMaya such as cryptocurrency services, micro-investments and insurance.
Voyager claims to have over 47 million registered users across its consumer platforms, a figure that is more than two-thirds of the adult population of the Philippines.
In November 2018, it grabbed itself a healthy $215 million in funding, which the firm stated at the time was the largest private fundraise for a Philippines-based tech company.