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Billionaire Jack Ma and one of the richest clans in the Philippines both notched wins as the company running the most popular e-wallet service in the archipelago raised new funds at a $5 billion valuation https://t.co/rcQpOru7Wi
Mitsubishi UFJ Financial Group is set to invest $393m in Globe Fintech Innovations, a leading Philippine mobile payments operator better known as Mynt, as it expands its foothold in Asia's booming digital financial market. https://t.co/JM3QPzhRoc
Philippine's Mynt gets valuation boost at $5 bln with Ayala, MUFG funding https://t.co/lTHZ3nowzO https://t.co/ChvPbyfMbH
Japan's Mitsubishi UFJ Financial Group (MUFG) is set to invest $393 million in Globe Fintech Innovations, better known as Mynt, the leading mobile payments operator in the Philippines. This investment will give MUFG an 8% equity stake in Mynt's top fintech app, GCash. The deal values Mynt at $5 billion, significantly boosting its valuation. This move is part of MUFG's strategy to expand its presence in Asia's growing digital financial market. The funding round also saw participation from Ayala, a major Philippine conglomerate. InsiderPH reported that billionaire Jack Ma and one of the richest clans in the Philippines both notched wins as the company raised new funds.
