- Tram Ho
MoMo has just announced the completion of the 5th round of funding (Series E), with about 200 million USD from investors Mizuho, Ward Ferry, Goodwater Capital and Kora Management. This funding round is led by Mizuho – Global Bank of Japan.
Regarding the valuation after raising capital, the MoMo representative did not provide specific data, but confirmed that the value of this e-wallet has exceeded 2 billion USD.
MoMo said it will use the new capital to strengthen its position as a market-leading super app by increasing the provision of financial services to 31 million existing customers, expanding the market through providing digital transformation solutions for millions of small businesses (SMEs), micro enterprises (MSMEs) in Vietnam and continue to promote investment in Vietnamese companies to expand the ecosystem. The company will also expand and strengthen its services in tier 2 and tier 3 cities as well as rural areas.
This investment shows respect and belief in MoMo’s mission, which is to use technology to improve the quality of Vietnamese people’s lives, helping people access financial services and financial services. other essentials of life in a simple, convenient, low-cost way”.
“The strong commitment of global investors to the super-app platform MoMo, a technology product for Vietnamese people built entirely by the hands and minds of Vietnamese engineers, is a great encouragement for MoMo’s team of talented engineers, motivating us to constantly innovate, create and create different values”, said Mr. Nguyen Manh Tuong, Vice Chairman of the Board of Directors, co. General Director of MoMo shared.
MoMo has 31 million users, a sharp increase from 20 million in September last year. Sales in 2021, although not releasing specific figures, but this super app representative said it had nearly doubled over the same period.
5 rounds of MoMo’s fundraising
This 5th round of funding has the largest scale of all previous fundraising. Previous funding rounds include:
– In 2013, Goldman Sachs was the first investor to pour capital into MoMo with the amount of 5.75 million USD
– March 2016: MoMo announced the completion of Series B round with two main investors, Standard Chartered Private Equity (currently Affirma Capital) and Goldman Sachs Global Investment Bank.
– January 16, 2019: MoMo announced the completion of the Series C round with the main participation of Warburg Pincus.
– January 2020: completed the Series D round with the participation of investors Warburg Pincus, Macquarie Capital, Goodwater Capital, Kora Management, Affirma Capital and Tybourne Capital Management. This funding round is led by Goodwater, a financial investment fund from Silicon Valley (USA) and Warburg Pincus.
Source : Genk