January 20, 2021
Latham & Watkins LLP advised MoMo, which is Vietnam’s largest e-wallet company and one of the fastest growing Fintech applications in Asia, on its Series D fundraising via subscription of shares by existing shareholders including Warburg Pincus, Affirma Capital, and Tybourne Capital and new investors including Macquarie Capital, Goodwater Capital, and Kora Capital.
As the leading technology company in Vietnam with more than 23 million registered users, MoMo's open platform allows tens of millions of users and businesses to easily access and participate in the digital economic development. Currently, MoMo has more than 30,000 business partners and 120,000 merchants using MoMo’s e-wallet in Vietnam. MoMo directly connects with 28 largest domestic and international banks in Vietnam and provides services to more than 90% of people with bank accounts across the country. The newly raised funds will be used to build a new “Super App” platform and to upgrade MoMo's ecosystem to serve tens of millions of users and business partners in Vietnam.
Latham & Watkins LLP represents MoMo in the Series D financing with a corporate deal team led by Hong Kong partner Amy Beckingham, with Singapore associate Gwenlynne Lee and Hong Kong associate Nathan Ma.