Voyager Innovations, the financial technology arm of Philippines operator PLDT, closed a $40 million investment from International Finance Corp (IFC) and IFC Emerging Asia Fund.
In a stock market filing, the operator said the latest investment completes a “$215 million fund-raise into Voyager Innovations”, reducing its holding in the unit to below 50 per cent, but PLDT remains the largest shareholder.
The fundraising effort includes a $175 million investment by Chinese internet giant Tencent and private equity company Kohlberg Kravis Roberts secured last month.
Voyager Innovations’ platforms run consumer mobile wallet PayMaya and its PayMaya Business enterprise unit, remittance company Smart Padala, online lending platform Lendr and loyalty and awards platform Freenet.
In early December the operator acquired a 45.73 per cent stake in Multisys Technologies, a Philippines-based provider of software and IT solutions, for an undisclosed sum.