Philippines-based fintech company Mynt has reached a valuation exceeding $5 billion following significant investments from Japan’s Mitsubishi UFJ Financial Group (MUFG) and the Ayala Corporation. This marks a major milestone for Mynt, solidifying its position as a leading financial technology player in Southeast Asia.
Mynt, the operator of the popular mobile wallet GCash, announced the successful completion of its latest funding round, which saw participation from MUFG and the Ayala Corporation. These investments underscore the confidence major investors have in Mynt’s growth potential and its pivotal role in driving financial inclusion in the Philippines.
MUFG’s investment aligns with its strategic focus on expanding its presence in the Southeast Asian fintech landscape. The Japanese financial giant’s backing is expected to bolster Mynt’s technological capabilities and operational efficiencies. This partnership also opens avenues for Mynt to explore innovative financial solutions and expand its suite of digital financial services.
The Ayala Corporation, a long-time investor in Mynt, continues to demonstrate its commitment to fostering digital transformation in the Philippines. Ayala’s ongoing support is pivotal in Mynt’s mission to provide accessible and inclusive financial services to millions of Filipinos.
Mynt’s rapid growth is driven by the surging adoption of GCash, which has become a crucial financial tool for many Filipinos, particularly during the COVID-19 pandemic. The platform’s user base has expanded significantly, enabling Mynt to achieve a new level of scale and operational success.
As Mynt’s valuation crosses the $5 billion mark, the company is poised to further innovate and expand its offerings. The infusion of capital from MUFG and Ayala Corporation is expected to accelerate Mynt’s growth trajectory and reinforce its position as a leading fintech entity in the region.