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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.
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
