MoMo has just announced their record growth in 2018 and the successful call in the 3rd round of call (series C), including the contribution of private fund Warburg Pincus. Momo does not share specific numbers, but this figure could be the highest number that foreign investors have ever put in a Fintech business – financial technology and e-commerce in Vietnam. In 2018, MoMo is also the only Fintech company in Vietnam to reach the top 100 Fintech in the world voted by KMPG.
Up to now, MoMo has reached 10 million users and is the most registered electronic wallet in 2018. Currently Momo not only provides payment solutions at many chain stores across the country but also provides many other services: credit loans, deposits, bill payments, movie tickets, air tickets, insurance, and many promotional promotions.
More information, Warburg Pincus was founded in 1939 with headquarters in the US and offices in Asia, Europe and Canada. Warburg Pincus is managing assets worth more than $ 44 billion. Currently, Warburg Pincus is one of the largest private equity investors in Asia and the largest investor in Vietnam. Some outstanding deals can be mentioned as 300 million USD into Vincom Retail (2 times), more than 370 million USD (about 8400 billion VND) for TechcomBank, 300 million USD to VinaCapital, ..