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FINANCIAL TECHNOLOGY | Staff Reporter, Philippines

Philippines' GCash operator secures over $175m in funding

GCash recorded a gross transaction value of over $20.8b in 2020.

Mynt, the fintech arm of Philippine telecom firm Globe and the operator of mobile wallet GCash, has secured over $175m in funding from New York-based investment firm Bow Wave.

The funding was raised in multiple tranches.

In 2020, GCash recorded a gross transaction value of over $20.8b (PHP1t) spurred by online payments, bank cash-ins and money transfers.

UBS acted as financial advisor for Mynt for the transaction.

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