KKR, Tencent to invest USD 175 mln in Philippine fintech company

Friday 5 October 2018 00:06 CET | News

Private equity company KKR and Tencent have announced the acquisition of a minority stake in the fintech arm of Philippines’ PLDT.

According to PLDT, KKR and Tencent will turn into minority shareholders in Voyager Innovations, by separately acquiring a total of up to USD 175 million worth of new shares, while PLDT will retain a majority stake.

Philippine consumers are increasingly subscribing to digital services like electronic payments and online shopping. Voyager provides digital and financial services to Filipinos through its digital payments and remittance units, and the deal involving it is one of the largest investments to date in a Philippine technology company.

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Keywords: KKR, Tencent, PLDT, Philippine, fintech, acquisition, Voyager Innovations, digital payments, online shopping, remittance, online payments
Countries: World

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