•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
If successful, the initial public offering (IPO) of Mynt—the Philippines’ fintech unicorn—would set new records for a public listing in the past five years. Mynt is aiming to raise between $1 billion and $1.5 billion, valuing the company at $8 billion to $9 billion. According to Nikkei, the company is expected to begin meetings with core institutional investors in August. Securing commitments from these backers would help Mynt shape its strategy amid volatile market conditions. Mynt and its largest shareholder, Globe Telecom, have declined to comment, while Ant International—an owner of more than 30% of Mynt—has also remained silent.
Mynt’s confidence is closely tied to GCash. Founded in 2004, GCash has grown into one of the Philippines’ largest cashless digital ecosystems, with about 94 million registered users. Operated directly by Mynt (Globe Fintech Innovations), the GCash “super app” supports bill payments, fast money transfers, and a growing range of financial services, including savings, credit, investments, and insurance.
The platform also supports cross-border payments in more than 220 countries and territories through Ant Group’s Alipay+ network.
“Over the past decade, Mynt has evolved from an e-wallet operator into the Philippines’ leading digital fintech super app and the largest cashless payments ecosystem,” said Martha Sazon, Chairwoman and CEO of Mynt. “Board and shareholder approval to pursue a public listing reflects potential in our ongoing journey, while we continue to prioritize customers, support retailers, strengthen our platform, and build the business for long-term growth.”
Globe Telecom is a key backer, holding 34% of Mynt. Ant International owns more than 30% of Mynt. Other investors include Mitsubishi UFJ Financial Group (Japan) and Warburg Pincus.
Sazon added: “We hope Mynt’s journey can inspire Philippine companies and startups, spur innovation and entrepreneurship in the local tech community, and promote the Philippines as a dynamic fintech hub in Southeast Asia.”
Sources: Nikkei, WSJ
