" class="no-js "lang="en-US"> MoMo announces completion of Series E funding round
Thursday, June 13, 2024

MoMo announces completion of Series E funding round from MIZUHO, WARD FERRY and global investors

MoMo – Vietnam’s No. 1 Super App, announced the completion of the 5th funding round (Series E). The company has received approximately $200 million in investments from global investors including Mizuho, Ward Ferry, Goodwater Capital and Kora Management. This funding round is led by Mizuho – Global Bank of Japan.

The company will use the new capital to strengthen its position as a market-leading super app by increasing the provision of financial services to 31 million existing customers, expanding the market through providing financial solutions. digital transformation solutions for millions of small businesses (SMEs), micro enterprises (MSMEs) in Vietnam and continue to promote investment in Vietnamese companies to expand the ecosystem. The company will also expand and strengthen its services in tier 2 and tier 3 cities as well as rural areas.

Over the past 10 years, MoMo has continuously invested in technology solutions with the desire to make Vietnamese people’s lives better and better. The company has always strongly supported and actively participated in the process of realizing the Government’s national strategic goals related to the development of the Digital economy, the development of non-cash payments (Cashless) payments), strengthening Financial inclusion, and efforts to help people and businesses overcome difficulties caused by the pandemic.

During the pandemic, through MoMo’s charity platform, millions of customers have raised nearly 4 million USD to support disadvantaged compatriots and children. At the same time, MoMo also helps promote the digital transformation of tens of thousands of business partners in the ecosystem, with more than 140,000 payment acceptance points nationwide spread across different fields.

Mr. Nguyen Manh Tuong, Vice Chairman of the Board of Directors, Co-CEO of MoMo shared, “We are honored and happy to receive the support and trust from global investors. This investment shows respect and belief in MoMo’s mission, which is to use technology to improve the quality of Vietnamese people’s lives, helping people access financial and essential services. other essentials of life in a simple, convenient, and low-cost way. The strong commitment of global investors to the super application platform MoMo, a technology product for Vietnamese built entirely by the hands and minds of Vietnamese engineers, is the It is a great encouragement for MoMo’s team of talented engineers, motivating us to constantly innovate, create and create different values.”

Daisuke Horiuchi, Managing Director of Mizuho’s Retail Business (Mizuho’s Retail Business) shared, “We are very proud to be an investor of MoMo. Currently, we are constantly exploring and expanding our retail businesses in Southeast Asia, as well as in digital transformation and financial inclusion. MoMo has performed excellently in all three areas above and we are confident that the company will continue to contribute to improving the quality of life not only of Vietnamese people, but also of businesses through the provides comprehensive solutions related to financial services, as well as other essential services for life. Working with MoMo, we look forward to helping the company grow stronger in the future and promote financial inclusion which is increasingly popular in Vietnam.”

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