Warburg Pincus Invests in Mynt, the Philippines’ Only US$2bn Unicorn

Latham advises in US$300 million funding round of the company behind leading payment App GCash.

November 09, 2021

Mynt, a leading digital financial solutions provider in the Philippines and the company behind the GCash payment services app, has raised over $300 million in funding. The investment round was led by global investment firm Warburg Pincus and global private equity and venture capital firm Insight Partners, with participation from Itai Tsiddon and Amplo Ventures as well as capital from Globe, Ayala and Bow Wave, Mynt’s existing investors.

The funding round sees Mynt valued at over US$2 billion and solidifies the company’s status as the Philippines’ only unicorn, and one of the leading fintech companies in Southeast Asia.

Latham & Watkins advised Warburg Pincus in the series funding round, with a deal team led by Hong Kong partner Amy Beckingham with associates Bing Xi Sia and Mark Hu. Advice on Philippines law was provided by local counsel Judy Hao from ACCRALAW.

GCash is the #1 Financial App in the Philippines. GCash has been a wholly owned subsidiary of Mynt (Globe Fintech Innovations, Inc.) since 2015.

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