Latham & Watkins Advises on MoMo’s Series E Fundraising

Latham & Watkins LLP advised Online Mobile Services Joint Stock Company (MoMo), which is Vietnam’s largest e-wallet company and one of the fastest growing fintech applications in Asia, on its Series E fundraising, which is led by lead investor Mizuho Bank, along with external investor Ward Ferry and existing shareholders Goodwater Capital and Kora Capital. 

MoMo will use the new capital to strengthen its position as a market-leading super app through providing digital transformation solutions for millions of small businesses in Vietnam and continuing to promote investment in Vietnamese companies to expand the ecosystem. Registered users of MoMo grew to 31 million from 23 million last year as consumers and merchants moved to digital platforms during the pandemic. MoMo will also expand and strengthen its services in tier 2 and tier 3 cities as well as rural areas. 

Latham & Watkins' team was led by Hong Kong corporate partner Amy Beckingham, with associate Nathan Ma. The team also advised MoMo on its Series D fundraising in January earlier this year.