Participated · Equity · Apr 2022

Voyager Innovations operates PayMaya, a leading Philippine payment and financial‑services app, and the neobank Maya Bank. PayMaya offers a digital wallet, online remittances, bill payments, bank transfers, prepaid cards and an e‑commerce feature called PayMaya Mall. The app has over 47 million registered users and is one of the most popular financial apps in the Philippines alongside GCash and Coins. Voyager plans to use new capital to expand Maya Bank services, including savings and credit products delivered through PayMaya, and to add cryptocurrency, micro‑investments and insurance. Maya Bank secured one of six digital banking licenses from the Bangko Sentral ng Pilipinas in September 2021 and began pilot testing in March 2022. The company most recently raised $210 million at a $1.4 billion valuation, after a prior $167 million round in July 2021. Voyager Innovations is a leading Philippine technology company whose financial-technology arm PayMaya provides integrated digital payments, mobile wallet, remittance, and payments-processing services across consumers, merchants, communities, and government. PayMaya serves more than 38 million registered users (as of June 2021) and supports transactions through over 250,000 digital-finance touchpoints and a 40,000-strong Smart Padala agent network. Its enterprise business processes payments for large retail, food, gas, and e-commerce merchants, as well as government agencies, and connects over 350 merchants via PayMaya Mall. Voyager has begun expanding into digital financial services, launching sachet MSME loans (Negosyo Advance) and device and health protection products with insurance partners. The company is leveraging PayMaya’s technology and distribution to apply for a digital bank license from the Bangko Sentral ng Pilipinas and to offer mobile-first, low-cost, branchless neo-banking services. The recent capital raise will fund expansion into credit, insurance, savings, and investment products to deepen financial inclusion for unbanked and underserved Filipinos and MSMEs. Voyager Innovations is a leading Philippine technology company whose digital financial services arm, PayMaya, offers an end-to-end payments ecosystem for consumers, merchants, and government. PayMaya Enterprise enables merchants to accept online and face-to-face payments across multiple schemes, while PayMaya Consumer provides a prepaid e-wallet and the Smart Padala remittance network. The company serves millions of Filipinos via its PayMaya app and wallet, supports over 40,000 Add Money touchpoints nationwide and more than 27,000 Smart Padala partner touchpoints. Voyager positions PayMaya as the payments enabler for large e-commerce, food, retail and gas merchants and for national and local government disbursement services. The company has launched initiatives such as the #OneAgainstCOVID19 drive to facilitate donations to humanitarian organizations. Voyager is pursuing expansion to adjacent services and accelerating digital and financial inclusion across the Philippines, supported by fresh investor funding. Voyager is a fintech business started by telecom firm PLDT that offers a prepaid wallet, digital payment for retail, a remittance network, digital lending and a loyalty and rewards program. The business is focused on mobile wallets and payment systems as key infrastructure plays in the Philippines' growing fintech market. Its services target both consumers and businesses and directly compete with Mynt, Ant Financial/Alibaba’s fintech venture tied to Globe Telecom. PLDT has retained its majority stake for now but has options to create new shares that could reduce its holdings to below 50 percent. Tencent and KKR agreed to invest to provide more capital and expertise to support Voyager’s growth. The transaction was described as the largest investment in a Philippines-based startup and underscores rising Chinese investor interest in Southeast Asian fintech.