Advertisement

PLDT selling more stake in Voyager to new investors

Voyager Innovations Inc., the digital innovations arm of PLDT Inc., is in talks with new financial investors to raise more money for expansion plans, according to a top executive.

“I think we’re close to it. I think we’re on the final stages. I think by January we have a better sense of how much money to be raised,” PLDT and Voyager chairman Manuel Pangilinan said.

“We try to stay within the 35-percent [share]. We’re about 47 to 48 percent,” he said.

PLDT and Voyager chairman Manuel Pangilinan
International Finance Corp., the private sector arm of the World Bank and IFC Emerging Asia Fund completed a $40-million investment in Voyager in December 2018.

The investments completed the $215-million fund raised for Voyager that included $175 million from KKR and Tencent Holdings Inc.

Voyager earlier said it would leverage the new capital and the significant expertise of KKR, Tencent, IFC and IFC Emerging Asia Fund to accelerate the digital and financial inclusion in the Philippines and enable the broader Filipino population to participate in the digital economy. 

The company’s award-winning technology platforms support digital services such as PayMaya―the most recognized prepaid payment wallet service in the Philippines. 

PayMya Philippines Inc.,  a subsidiary of Voyager, earlier said it was expecting to process P1 trillion worth of cashless payment transactions by 2023 as e-wallet account penetration was growing faster in the Philippines. 

PayMaya is processing over P200 billion worth of transactions annually.  It is the only digital financial services company with an integrated suite of solutions for consumers and merchants complemented by the widest remittance partner agent network.

Topics: Voyager Innovations Inc. , PLDT Inc. ,
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement