MANILA, Nov 2 (Reuters) – Philippines’ Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion.
Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year.
The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK.
($1 = 50.55 Philippine pesos)
(Reporting by Neil Jerome Morales; Editing by Christian Schmollingr)
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This article originally appeared on reuters.com