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    Home»Fundraising»Philippines’ Voyager raises $167M from KKR, Tencent
    Fundraising

    Philippines’ Voyager raises $167M from KKR, Tencent

    June 28, 20211 Min Read
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    Philippine digital and financial services firm Voyager Innovations has raised $167 million for its expansion programme, including a venture into digital banking, its listed and largest shareholder said on Monday.

    Shareholders PLDT Inc (TEL.PS), private equity firm KKR & Co Inc (KKR.N) and Chinese tech giant Tencent Holdings Ltd (0700.HK) participated in the funding round.

    Voyager, which serves 38 million Filipinos through its consumer platforms that include e-wallet and digital payments, welcomed a unit of the World Bank Group’s International Finance Corp (IFC) as a new investor.

    The fintech firm said it applied for a digital banking license with the Philippine central bank, which has so far granted three firms an approval to operate.

    Only a third of Filipinos have a formal bank account, among the lowest in Asia, giving fintech firms an attractive leeway for growth.
    Read more/Source: Reuters

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