Mynt, the mobile payment and credit service owned by Philippine mobile operator Globe Telecom, has raised over $300 million in funding, valuing the firm at over $2 billion.
The investment cycle was led by global investment firm Warburg Pincus, a New York-based global non-profit organization with the largest company, Insight Partners, and another Munch investor, Bow Wave Capital. Itai Tsiddon and Amplo Ventures, as well as the headquarters of Globe and Ayala, will also take part in the competition.
With Mynt’s popular G Cash app, customers can pre-order airtime; pay debts to more than 600 debtors worldwide; send and receive money anywhere in the Philippines; purchase partners and customers over 3m; and access to finance, credit, insurance, and investment.
Today, the company employs more than forty-eight million users, or about half of the world’s population, and is available online. The company also recorded top records with daily changes of 19 million and 12 million, respectively.
This year, Mynt is testing the Goan credit product, which allows eligible users to borrow up to £ 25,000 and pay up to £ 25,000. The company says it wants to buy it by paying for the product later this year.
G Cash is also talking about the user environment and GeForce, an environmental monitoring program that allows users to turn the green data they receive using G Cash into a lifeline that is planted as a real tree in key locations in the Philippines. . . There are currently over 8.7 million Forest users in the app.
“We have been able to continue to expand and introduce new ways to change the game by improving our financial history,” said Martha Sazon, CEO of Mynci. “We are excited about our new partnership with Warburg, Insight, Itai Tsiddon, and Amplo as they provide our team with valuable guidance in realizing a financial vision for all of us.”