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.

Participated · Equity · Aug 2017

Iflix operates a subscription streaming video service focused on Southeast Asia and other emerging markets. The company has been expanding its regional content relationships and added several media companies as strategic investors. It currently reports 17 million active users, up from 9 million six months earlier. Seven months ago Iflix sold its remaining shares in its Africa business, Kwesé Iflix, to concentrate on Southeast Asia and the Middle East. The company has raised more than $350 million to date and is preparing for a potential public offering. The latest funding will be used for growth ahead of that possible IPO. Iflix is an Asia-based streaming service offering a Netflix-style, mobile-focused video platform priced around $3 per month and available in 19 countries across Asia, the Middle East and Africa. The company targets mass-market viewers on lower-end devices and poorer-quality internet, focusing on local and regional content, originals, and live sports such as Indonesia's soccer league. It began broadcasting original programming earlier this year and hired Sean Carey, formerly VP of global television at Netflix, as chief content officer. Iflix reported five million registered users in March and said it has seen a 3X increase in subscriber numbers, a 2X rise in user engagement, and revenue up 230% year-on-year, though raw figures remain undisclosed. Founded in May 2015, the company plans to use the new funding to expand its local content library, pursue exclusives and first-runs, and potentially enter new regions such as Latin America. iflix provides a Netflix-like streaming service that emphasizes localized programming, regional payment options and partnerships with mobile operators. The service is available in nine Asian countries and in parts of the Middle East and Africa via an iflix Arabia joint venture with Zain. Price positioning is materially lower than Western competitors (example: in Thailand iflix is ~100 THB/month versus Netflix at ~280 THB/month). The company is pursuing original content and broader global expansion while also restructuring operations—recently cutting ~50 of ~650 staff with plans to hire ~200 roles over nine months. Operating metrics disclosed in coverage include over 1 million users in Indonesia, 100,000 registered users in Pakistan within the first month, and an updated total of five million registered users. A source cited a post-money valuation around $500 million following the new raise. iFlix is a one-year-old, Southeast Asia–focused streaming TV service and joint venture between Malaysia’s Catcha Group and U.S.-based Evolution Media Capital. It operates in Malaysia, Thailand and the Philippines and charges upwards of about $3 per month. The company has strategic backers including film giant MGM and recently added UK broadcaster Sky as an investor. iFlix previously raised $30 million from Catcha, PLDT and Jungle Ventures to expand across Southeast Asia. Management has indicated plans to expand further into Indonesia and to grow across Asia, with discussions about raising up to $150 million to enter Africa, Latin America and other emerging markets. Sky said the investment is strategic and that the two parties will work together to identify areas of future collaboration, including potential access to Sky’s programming library. iFlix is a video-on-demand service announced in March as a Netflix-like offering for Southeast Asia. It plans an initial rollout in Q2 2015 targeting the Philippines and Malaysia and aims to expand to more countries in the region. The company says its catalog contains over 10,000 hours of content and will invest in producing original programming. iFlix has stated it will work with local and regional production companies rather than independent producers on original content. To support its launch and growth it secured a $30 million pre-launch capital injection from Catcha and PLDT. The funds are earmarked to broaden country coverage, increase the catalog, and finance a marketing push as iFlix competes with regional entrants such as HOOQ and other services expanding in Asia.