Voyager Innovations Raised US$210M Funding
Voyager Innovations is a provider of money platforms based in Manila, Philippines. PayMayaneobank and neobank Maya Bank, raises US$210 millions in funding The round, which brought the valuation to nearly US$1.4 billion, was led by SIG Venture Capital, with participation from EDBI and investment holding company First Pacific Company, as well as existing shareholders PLDT Inc. (“PLDT”), KKR, Tencent, International Finance Corporation and IFC Emerging Asia Fund and IFC Financial Institutions Growth Fund, two funds managed by the IFC Asset Management Company, a division of IFC. The company will use the new funds to launch Maya Bank services, such as savings and credit, which will be offered across PayMaya’s platforms for consumers and enterprises, including micro, small, and medium-sized enterprises or MSMEs, and continue to expand its offering with new products like cryptocurrency, micro-investments, insurance, and more, as the all-in-one money app of the Philippines. Voyager Innovations is headed by Orlando B. Vea. Voyager President and PayMaya CEO-Founder. Shailesh B. Baidwan, Voyager President and PayMaya president, runs the company. PayMaya Philippines (PayMaya) is the fintech arm for Voyager. It provides an end-to–end digital payment ecosystem in the Philippines with platforms and services that reach consumers, merchants and communities. PayMaya’s consumer platforms have provided access to financial services for more than 47,000,000 Filipinos as of March 2022. Smart Padala, a PayMaya network that includes more than 63,000 contact points from partner agents, acts as a last-mile financial hub in communities. It provides unbanked and underserved people with digital services. Through its enterprise business, PayMaya is the largest digital payments processor for key industries in the country, including “everyday” merchants such as the largest retail, food, gas, and eCommerce merchants, as well as government agencies and units. Maya Bank powers the digital banking experience of consumers and enterprises across PayMaya’s ecosystem through financial services, including savings, deposits, and credit. With Voyager’s fintech PayMaya Philippines, it is creating the Philippines’ only end-to-end digital financial services platform.