What is MoMo?
MoMo stands as Vietnam's largest e-wallet and the vanguard of mobile digital payments, driven by a mission to democratize access to financial services and products. The company's mobile application, available on both iOS and Android, facilitates a wide array of transactions including domestic cash transfers, payments for over 100 types of bills, mobile account top-ups, personal loan settlements, and purchases of goods and services ranging from e-commerce and online game credits to airline and movie tickets.
Serving a substantial user base of over 14 million registered individuals in Vietnam, MoMo boasts an extensive network of more than 100,000 acceptance points spanning diverse sectors such as transportation, utilities, entertainment, consumer finance, insurance, money transfer, retail, and food and beverage.
How much funding has MoMo raised?
MoMo has raised a total of $361.8M across 5 funding rounds:
Series A
$5.8M
Private Equity
$28M
Series B
$28M
Series D
$100M
Series E
$200M
Series A (2013): $5.8M with participation from Goldman Sachs
Private Equity (2016): $28M led by Goldman Sachs
Series B (2016): $28M supported by Standard Chartered and Goldman Sachs
Series D (2021): $100M featuring Warburg Pincus LLC, Macquarie Group Limited, Kora Management Ltd, and Goodwater Ltd
Series E (2021): $200M backed by Mizuho
Key Investors in MoMo
Warburg Pincus LLC
Warburg Pincus LLC is a leading global private equity firm renowned for its expertise in growth investing. Operating as a private partnership, the firm leverages decades of experience to support investors and management teams in building long-term, sustainable success across diverse market cycles.
Macquarie Group Limited
Macquarie is a global financial services group operating across 33 markets worldwide. The company provides a comprehensive range of services including asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advisory, and capital raising.
Goldman Sachs
Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to corporations, governments, and institutional and individual clients, including mergers and acquisitions advisory, underwriting, asset management, securities trading, and wealth management.
What's next for MoMo?
With the recent infusion of $200M in a major strategic investment, MoMo is poised for accelerated expansion and innovation. This substantial capital injection, part of its overall $361.8M in financing, will likely fuel further development of its platform, enhance user experience, and broaden its service offerings. The company's focus on equal access to financial services suggests continued investment in underserved markets and the development of new fintech solutions tailored to the Vietnamese economy. Strategic partnerships and technological advancements are anticipated as MoMo solidifies its position as a dominant force in Southeast Asia's digital finance landscape.
See full MoMo company page
