Philippines fintech firm Voyager nears funding at US$1.5b valuation: sources

[HONG KONG] Voyager Innovations is close to raising about US$200 million from investors in a deal that would help the Philippine fintech firm expand its services, according to people familiar with the matter.

The digital arm of PLDT, the South-east Asian nation's biggest telecommunications company by market value, could reach a valuation of US$1 billion to US$1.5 billion after the round, the people said, asking not to be identified as the process is private.

The private round is likely to be led by Susquehanna International Group, the US investment firm also known as SIG that was one of the earliest and largest backers in TikTok-owner ByteDance.

Some of Voyager's existing investors in the company, which include private equity firm KKR & Co and Chinese technology giant Tencent Holdings, may also participate in the round, the people said.

Talks are at an advanced stage and the deal could be announced as early as Tuesday (Apr 12), the people said. A representative for Voyager declined to comment.

Voyager has been considering raising funds to help finance its expansion, Bloomberg News reported in February. The company raised US$167 million in June to fund the expansion of its online payment unit PayMaya. The company won a digital bank permit in September. BLOOMBERG