Mynt Raises $300M in Funding
Summary
Mynt, a Manila, Philippines-based digital financial solutions provider behind the GCash payment services app, raised over $300m in funding, valuing it at over $2 billion. Led by Martha Sazon, President and CEO, Mynt is a “go-to” payment and financial services solution for over 48 million users. Through the GCash App, customers can purchase prepaid airtime, pay bills at over 600 partner billers nationwide, send and receive money anywhere in the Philippines, even to other bank accounts, purchase from over 3M partner merchants and social sellers, and get access to savings, credit, insurance and invest money, all via their smartphones. Through its wholly owned subsidiary Fuse and other banking partners, the company also offers credit to its users, on the back of its proprietary trust and scoring platform. Mynt also piloted GLoan, a cash loan product that allows qualified users to borrow as much as P25,000, with repayment spread over 12 months.