Voyager Innovations gets fresh funding from its investors as it readies itself to push for Paymaya’s expansion.
The new funding comes from PLDT Inc., global investment firm KKR, Tencent, World Bank group member IFC, and the IFC Emerging Asia Fund, who recently committed up to USD 120 million geared towards expanding and growing Paymaya.
The additional investment highlights the group’s confidence in Voyager’s strategy of providing greater access to digital financial services across the Philippines through financial technology arm, PayMaya.
The fresh funding also comes at an opportune time as the country transitions to improve its cashless transactions and digital finance.
“In line with the country’s goals, we have made significant strides in spurring cashless adoption in a largely unbanked population. This funding boosts PayMaya’s ability to reach more Filipinos, especially as access to digital financial services becomes even more important,” said Orlando B. Vea, CEO and Founder of Voyager Innovations.
PayMaya is the only end-to-end digital payments ecosystem in the Philippines that provides platforms and services that cuts across consumers, merchants, and government. Aside from providing the cashless payment channels, PayMaya enables national and social services agencies as well as local government units with digital payments and disbursement services.