FinTech Startup Mynt Hits $2 Billion Valuation with $300 Million Investment

Fazzaco learned that Mynt, a fintech startup based in Philippines, has raised nearly $300 million in a funding round, boosting its valuation to more than $2 billion. 

As detailed in the official announcement, the latest funding round was led by Warburg Pincus, Insight Partners, and Bow Wave Capital, with participation from Itai Tsiddon, Amplo Ventures, Globe and Ayala.

Mynt is the Philippines' only unicorn, and one of the leading fintech companies in Southeast Asia. It has witnessed an unprecedented increase in its number of merchants and social sellers, now at 3 million. Additionally, it has achieved scale while improving its unit economics, delivering positive EBITDA and net income in mid-2021. With the addition of highly experienced global investors in Warburg Pincus and Insight Partners, Mynt is well-positioned to further expand its digital financial services offerings and support the Philippine's financial inclusion agenda.

"This is further proof that our growth and achievements have not gone unnoticed. We have been able to continuously expand by introducing game-changing innovations while improving our profitability profile," said Martha Sazon, President and CEO of Mynt. "We are excited about our new partnership with Warburg, Insight, Itai Tsiddon and Amplo, as they each bring strategic value to our team in the pursuit of our vision towards finance for all."