MANILA (Reuters) – Philippines’ Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion.
Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year.
The company is partly owned by Globe Telecom, Ayala Corp, Bow Wave, and Ant Financial, the financial technology arm of Alibaba.
($1 = 50.55 Philippine pesos)
(Reporting by Neil Jerome Morales; Editing by Christian Schmollingr)
