Philippines Globe Fintech Innovations (Mynt) Finance Super App GCash Plans Philippines IPO in 2025 to Raise $1 Billion to $1.5 Billion, Raised New Funding at $5 Billion Valuation in 2024 August from Philippines Conglomerate Ayala Corporation & Japan Mitsubishi UFJ Financial Group
3rd December 2024 | Hong Kong
Philippines Globe Fintech Innovations (Mynt) Finance Super App GCash is planning for a Philippines IPO in 2025 to raise $1 billion to $1.5 billion. In 2024 August, Philippines Globe Fintech Innovations (Mynt) raised new funding at $5 billion valuation from Philippines conglomerate Ayala Corporation & Japan Mitsubishi UFJ Financial Group. Ayala has increased investments in Mynt via AC Ventures for additional 8% stake, and MUFG Bank will be acquiring 8% stake in Mynt. Announcement (2/8/24): “Globe Fintech Innovations, Inc. (“Mynt”), the parent company of the Philippines’ number one finance super app and largest digital cashless ecosystem, GCash, has successfully secured fresh strategic investments from Ayala Corporation (“Ayala”), one of the largest and most enduring conglomerates in the Philippines, and Mitsubishi UFJ Financial Group (“MUFG”), Japan’s largest banking group and one of the largest financial institutions globally. This 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 PHP 6.7 billion of net income. Through its wholly-owned subsidiary, AC Ventures Holdings, Inc. (“ACV”), Ayala will increase its investments in Mynt by acquiring an additional 8% stake in the Company. At the same time, MUFG, through its consolidated subsidiary, MUFG Bank, Ltd. will acquire an 8% stake after entering into binding agreements to invest in Mynt. Mynt has seen an unprecedented growth in its user base and transactions in the past four years, fueled by innovations and a keen focus on improving customer experience. Aligned with its commitment towards financial inclusion, this fresh investment will further spark economic growth in the Philippines by unlocking financial services to Filipinos. The proposed investment is subject to the execution of definitive transaction documents and the satisfaction of customary closing conditions. Upon completion, MUFG will join Mynt’s shareholder base and Ayala will increase its stake in Mynt. Morgan Stanley acted as exclusive financial advisor to Mynt.” Mynt – Mynt is the first and only $5 billion unicorn in the Philippines. It’s a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 finance super app and largest digital cashless ecosystem in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans. About GCash – GCash is the Philippines’ #1 Finance Super App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines which is a part of the country’s leading digital solutions platform, Globe Group. GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
“ Philippines Globe Fintech Innovations (Mynt) Finance Super App GCash Plans Philippines IPO in 2025 to Raise $1 Billion to $1.5 Billion, Raised New Funding at $5 Billion Valuation in 2024 August from Philippines Conglomerate Ayala Corporation & Japan Mitsubishi UFJ Financial Group “
Philippines Globe Fintech Innovations (Mynt) Raised New Funding at $5 Billion Valuation from Philippines Conglomerate Ayala Corporation & Japan Mitsubishi UFJ Financial Group, Ayala Increased Investments in Mynt via AC Ventures for Additional 8% Stake & MUFG Bank to Acquire 8% Stake in Mynt
9th August 2024 – Philippines Globe Fintech Innovations (Mynt) has raised new funding at $5 billion valuation from Philippines conglomerate Ayala Corporation & Japan Mitsubishi UFJ Financial Group. Ayala has increased investments in Mynt via AC Ventures for additional 8% stake, and MUFG Bank will be acquiring 8% stake in Mynt. Announcement (2/8/24): “Globe Fintech Innovations, Inc. (“Mynt”), the parent company of the Philippines’ number one finance super app and largest digital cashless ecosystem, GCash, has successfully secured fresh strategic investments from Ayala Corporation (“Ayala”), one of the largest and most enduring conglomerates in the Philippines, and Mitsubishi UFJ Financial Group (“MUFG”), Japan’s largest banking group and one of the largest financial institutions globally. This 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 PHP 6.7 billion of net income. Through its wholly-owned subsidiary, AC Ventures Holdings, Inc. (“ACV”), Ayala will increase its investments in Mynt by acquiring an additional 8% stake in the Company. At the same time, MUFG, through its consolidated subsidiary, MUFG Bank, Ltd. will acquire an 8% stake after entering into binding agreements to invest in Mynt. Mynt has seen an unprecedented growth in its user base and transactions in the past four years, fueled by innovations and a keen focus on improving customer experience. Aligned with its commitment towards financial inclusion, this fresh investment will further spark economic growth in the Philippines by unlocking financial services to Filipinos. The proposed investment is subject to the execution of definitive transaction documents and the satisfaction of customary closing conditions. Upon completion, MUFG will join Mynt’s shareholder base and Ayala will increase its stake in Mynt. Morgan Stanley acted as exclusive financial advisor to Mynt.” Mynt – Mynt is the first and only $5 billion unicorn in the Philippines. It’s a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 finance super app and largest digital cashless ecosystem in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans. About GCash – GCash is the Philippines’ #1 Finance Super App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines which is a part of the country’s leading digital solutions platform, Globe Group. GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
Mynt – Mynt is the first and only $5 billion unicorn in the Philippines. It’s a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 finance super app and largest digital cashless ecosystem in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
Ayala Corporation – For 190 years, Ayala Corporation has been building businesses that enable people to thrive. As one of the largest and most enduring conglomerates in the Philippines, Ayala has established meaningful presence in real estate, banking, telecommunications, and renewable energy. It likewise has a growing presence in healthcare, logistics, mobility, fintech as well as investments in industrial technologies, education, and technology ventures. Ayala manages its corporate social responsibility initiatives through Ayala Foundation.
MUFG (Mitsubishi UFJ Financial Group) – MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning around 40 countries. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. MUFG Bank’s parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
Globe – Globe Telecom, Inc. is a leading digital platform in the Philippines, with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, and virtual healthcare. The company serves the telecommunications and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. In 2019, Globe became a signatory to the United Nations Global Compact, committing to implement universal sustainability principles. Its principals are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$5.2 billion as of the end of June 2024.
About GCash – GCash is the Philippines’ #1 Finance Super App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines which is a part of the country’s leading digital solutions platform, Globe Group. GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
