Filipino fintech firm Voyager Innovations has raised $210m in new funding round, at a valuation of around $1.4bn.

SIG Venture Capital led the round, which was joined by EDBI and First Pacific along with Voyager’s existing investors PLDT, KKR, Tencent and International Finance Corporation (IFC).

Funds managed by IFC’s asset management arm IFC AMC—IFC Emerging Asia Fund and IFC Financial Institutions Growth Fund —also joined the round.

Voyager claims to serve more than 47 million Filipinos through its end-to-end money platform PayMaya.

The firm will use the proceeds to launch new savings and credit services on Maya Bank and enhance PayMaya’s product portfolio by adding new offerings such as micro-investments, cryptocurrency, and insurance.

The new services will be available through PayMaya’s platforms for consumers and micro, small and medium-sized companies.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Voyager and PayMaya president Shailesh Baidwan said: “The strong endorsement from our new shareholders and participation of our existing investors in this fundraising validates the company’s ability to expand into neobanking and add new cutting-edge financial products and services.

“We are excited to bring more game-changing innovations to millions of consumers and MSMEs with our integrated ecosystem as we address the pent-up demand for financial services.”

In September 2021, Voyager entered the digital banking space after PayMaya secured a digital banking licence from the BSP.

PayMaya established the country’s sixth digital bank and began pilot testing in March 2022.

SIG member Akshay Bajaj said: “The PayMaya team is a world-class set of professionals who have built the most complete and unified fintech ecosystem in the market. Leveraging PayMaya’s distribution strength with enterprises and consumers, Maya Bank has the potential to be one of the most successful digital banks not just in the Philippines, but globally.”