Philippines’ Voyager Innovations reaches $215m funding
Philippine digital tech company Voyager Innovations has now grabbed itself a healthy $215 million in funding.
The “largest private fund raising to-date in a Philippine technology company”
As reported last month, telco PLDT, investment firm KKR and Tencent were part of a $175 million investment in Voyager. That has now closed.
In the latest chapter, PLDT has announced that the International Finance Corporation (IFC) and IFC Emerging Asia Fund committed to invest $40 million in Voyager. This transaction is expected to close within a few weeks.
The total of $215 million makes this the “largest private fund raising to-date in a Philippine technology company”.
“Voyager can now step up its efforts to make its innovative financial and internet platforms more accessible to more Filipinos in more parts of the country,” says Manuel V. Pangilinan, chairman and CEO of PLDT and Smart Communications.
KKR and Tencent’s investment gives them a “substantial” (but unspecified) minority stake in the company.
Voyager will use the new capital and expertise of the backers to try and cash in on the nation’s digital market. It’s ripe for picking.
Voyager provides various digital services. These include PayMaya, a prepaid payment wallet service; PayMaya Business, a mobile acquiring service; Smart Padala, a mobile-based remittance network; and Lendr, a digital lending platform.
