PayMaya owner Voyager Innovations raises $210M at a valuation of $1.4B

The owner of Philippines' PayMaya and neobank Maya Bank has raised $210 million, bringing its valuation to over $1 billion.

The round was led by SIG Venture Capital and included participation from First Pacific Company, as well as returning shareholders.

The funds will be used to launch Maya Bank services, including savings and credit products, through PayMaya, which has over 47 million registered users and is one of the most popular financial apps in the Philippines.

PayMaya already includes a digital wallet, online remittances, bill payments, bank transfers, and an e-commerce feature called PayMaya Mall.

The last round of funding for the company was in July of 2021.

PayMaya owner Voyager Innovation raises $167M from KKR, Tencent and IFC, to launch digital bank in the Philippines

At the time of the announcement, Voyager said it had applied for a digital bank license in the Philippines. Half of the adult population in the country is unbanked, but the central bank wants 70% of Filipinos to have payment or transaction accounts by the year 2023.

Maya Bank started pilot testing in March of 2022.

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