One of the country’s leading financial technology platforms raised over P6 billion from local and international investors as the new coronavirus pandemic bolsters demand for electronic payments. | miguelrcamusINQ
“This fresh round of investment is a testament to Voyager’s success in providing Filipinos with access to convenient, relevant and inclusive digital financial services through PayMaya,” the companies said in a joint statement on Monday.
The funding comes amid the challenging investment climate in the Philippines and overseas as efforts to contain the outbreak are likely to cause economies around the world to contract. PayMaya, whose platform also supports businesses and government agencies, earlier announced a goal of reaching P1 trillion in transaction volume by 2023.
The funding round adds to the $215 million that Voyager had raised from Tencent, the Chinese technology giant that developed WeChat, KKR and IFC since 2018.“Today, more than ever, our end-to-end digital financial services are becoming more relevant and embedded in the daily lives of Filipinos – from sending money, buying airtime load, or paying for purchases through our PayMaya wallet,” said Shailesh Baidwan, President of Voyager Innovations and PayMaya Philippines.
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