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Globe Fintech Innovations Inc. , the parent company of the digital cashless ecosystem GCash, secured fresh strategic investments from Ayala Corp. and Mitsubishi UFJ Financial Group of Japan. The latest deal pushed Mynt’s valuation to $5 billion, more than doubling its $2 billion valuation from the last funding round in 2021. As of 2023, Mynt recorded P6.7 billion in net income.
“We are thrilled to welcome MUFG as a new strategic partner. With their global expertise and reach within the financial inclusion space, they will be instrumental in further expanding GCash’s social impact, especially to the underserved. Alongside this, Ayala’s unmatched commitment to Philippine economic growth and development, and its expertise in multiple industries will accelerate GCash’s mission,” said Mynt president and chief executive Martha Sazon.
“We like the long-term growth prospects of Mynt. It is a clear leader in a fast-growing space and a key contributor to the Philippines’ economic growth. Mynt is valuable because it enables underserved Filipino consumer and business segments to thrive,” said Ayala Corp. president and chief executive Cezar Consing.
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