- Tencent, KRR, PLDT invests further
- Voyager welcomes World Bank unit as new investor
- Philippines among the lowest in bank penetration in Asia
MANILA, June 28 (Reuters) – 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, PLDT said in a disclosure.
Voyager, which serves 38 million Filipinos through its consumer platforms that include e-wallet and digital payments, welcomed a unit of the World Bank’s International Finance Corp 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.
Reporting by Neil Jerome Morales; Editing by Martin Petty
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