ImpactAlpha, April 13 — Manila-based Voyager Innovations owns the neobank Maya Bank and PayMaya, a payment app serving 47 million underserved consumers and merchants in the Philippines, where half of the adult population is unbanked.
Voyager’s Shailesh Baidwan says there’s “pent-up demand for digital financial services” from the country’s young and digital-savvy demographic.
With the $210 million round, PayMaya will add new products such as cryptocurrency, micro-investments and insurance.
The financing values Voyager at $1.4 billion. The round was backed by KKR and several funds of International Finance Corp.
KKR invested $45 million in GrowSari earlier this year to digitalize payments for brick-and-mortar convenience stores in the Philippines.