With the latest capital injection by Mizuho in exchange for 7.5% stake in the company, e-wallet MoMo is now valued at over USD 2 billion, placing it among a handful of other Vietnamese unicorns.
The new capital infusion will be used to further invest in other Vietnam-based companies, expand the company’s service to other vendors, as well as increase its user base in rural areas. According to the e-wallet officials, MoMo counts for over 31 million active users in the Southeast Asia country, almost a third of the country’s population of 100 million inhabitants.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now