202108 Jan
GCash attracts fresh investment from Bow Wave
Type
Funding Rounds
Funding
202108 Jan
$175MOthers
Source
Prnewswire
Summary

"This investment from Bow Wave is a validation of both what we have accomplished as well as the potential of GCash in unlocking digital services in the Philippines," said Martha Sazon, President and Chief Executive Officer of Mynt. Users have been able to maximize the use of their mobile wallets to transact physically and online, to purchase airtime load, to open deposit accounts, to save and invest in money market funds, and to acquire insurance products. We are further encouraged by the fact that Mynts momentum has continued, even as the country moved out of quarantine restrictions, suggesting a fundamental shift in our customers behavior towards a cashless lifestyle. Bow Wave is a close-ended private equity fund with a mandate to invest globally in online and mobile payment ecosystem companies. We are excited for this investment and we hope to add value to Mynt as it realizes its vision," remarked Itai Lemberger, Founder and CIO of Bow Wave.

Classifications
  • Fintech & Banking