Mynt is the parent of GCash, a digital cashless ecosystem and finance super app in the Philippines. The company also operates Fuse Lending, a tech-based lender offering microloans and business loans, and GXI, the mobile wallet operator for GCash. Mynt is valued at roughly PHP 286.4 billion (about $4.93 billion) and is described in the article as a roughly $5 billion unicorn. Its 2023 net income was PHP 6.7 billion ($115.39 million), triple the prior year. Ayala said there are large unrealized market opportunities for the GCash platform and sees substantial long-term growth potential. Ayala has increased its investment to take advantage of that growth and to reallocate capital to what it called "indubitable winners." Mynt operates the GCash app, offering a broad suite of digital financial services including payments, credit, savings, insurance, loans and investments. Led by CEO Martha Sazon, GCash is described as the #1 financial app in the Philippines and has been a wholly owned subsidiary of Mynt since 2015. The platform serves over 48 million users and is on track to reach PHP3 trillion of gross transaction value. Through its subsidiary Fuse and banking partners, Mynt provides credit via a proprietary trust and scoring platform; GCredit disburses over P1 billion in loans each month and had disbursed P15 billion as of June 2021. Mynt has piloted GLoan, offering qualified users loans up to P25,000 repayable over 12 months, and plans to launch Buy Now, Pay Later products within the year. The company also runs a sustainability program, GForest, with over 8.7 million users converting app activity into real trees planted across the Philippines. Mynt is a Globe Telecom financial venture that operates the GCash mobile-payments service and offers micro-payment and mobile loan products. Its products are aimed at helping under- and unbanked consumers, and the company said it currently has three million users. Globe, the Philippines’ largest operator, has 66.6 million subscribers (just over 50% market share), supporting Mynt's distribution. The recent transaction gives Ant Financial and Ayala Corporation control stakes in Mynt—each taking 45%—while Globe retains a 10% stake. Ant Financial said it will use technology to upgrade GCash and provide cash to help scale Mynt’s financial products. The deal aligns with Ant Financial’s broader Southeast Asia expansion and fintech investments.

Total raised

$696M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2024