What is MoMo?
MoMo stands as Vietnam's largest e-wallet and the vanguard of mobile digital payments in the nation. Its core mission is to ensure equitable access to financial services and products for all customers. The company's robust mobile payment 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. These encompass e-commerce transactions, online game credits, and ticketing for airlines and movies. MoMo currently serves a vast user base of over 14 million registered individuals in Vietnam, supported by 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 Goldman Sachs and Standard Chartered
Series D (2021): $100M featuring Macquarie Group Limited, Goodwater Ltd, Kora Management Ltd, and Warburg Pincus LLC
Series E (2021): $200M backed by Mizuho
Key Investors in MoMo
Macquarie Group Limited
Macquarie Group Limited is a global financial services group with operations in 33 markets, offering asset management, banking, wealth management, and capital raising services. Its extensive experience in diverse financial offerings supports companies across various industries.
Warburg Pincus LLC
Warburg Pincus LLC is a leading global private equity firm specializing in growth investing. The firm partners with management teams to build long-term value across diverse industries and geographic regions.
Mizuho
Mizuho is a major financial institution that has participated in MoMo's Series E funding round, indicating strategic backing for the company's growth initiatives.
What's next for MoMo?
The recent major strategic investment into MoMo signals a pivotal phase for the company, likely aimed at accelerating its expansion and solidifying its dominance in Vietnam's burgeoning fintech landscape. With a history of significant capital raises, including substantial Series D and Series E rounds, MoMo is well-positioned to enhance its service offerings, broaden its user base, and potentially explore new market opportunities. This latest backing will undoubtedly fuel further innovation in digital payment solutions and financial inclusion initiatives, reinforcing MoMo's role as a key player in the region's digital economy.
See full MoMo company page
