The fintech firm has raised $120 million in new funding, intended to support digital financial services provider Paymaya's rapid growth in the Philippines.
The funds raised is part of a broader fundraise towards Voyager's expansion efforts, and the company is also in talks with other strategic and financial investors, the firm announced in a statement on Monday.
The investment is a «recognition of the significant role that the Philippine financial technology industry can play in providing meaningful digital solutions to many of the crucial and very-human challenges that the Philippine community faces today,» said PLDT, KKR, Tencent, IFC and IFC Emerging Asia Fund, who participated in the funding round.
The firms had previously invested a total of $215 million in Voyager in 2018.
Wide Reach
Voyager is the parent company of Paymaya, which operates an end-to-end payments ecosystem for merchants in the Philippines, with over 40,000 touchpoints in the country. At the same time, Paymaya is hoping to increase financial inclusion by providing underbanked and underserved Filipinos with access to digital financial services through a prepaid e-wallet and digital payments app, and via remittance network Smart Padala.
It also works with national and social services agencies as well as local government units for digital payments and disbursement services.
«This investment will enable us to better support our financial inclusion thrust, while allowing us to expand to adjacent services,» said Shailesh Baidwan, president of Voyager Innovations and PayMaya Philippines.
