PayMaya eyes up to $130 million fresh funds



MANILA, Philippines — Voyager Innovations Inc. is planning to raise more funds to support PayMaya Philippines’ bid to outdo rival GCash.

PLDT chairman and CEO Manuel V. Pangilinan said there is an ongoing fundraising exercise for PayMaya.

“There are plans for them to raise funding. It’s part of the overall program they have in raising money between now and 2023. There are warrants still unexercised to the extent of $55 million. Those are likely to be exercised by the existing warrant holders including PLDT,” Pangilinan said.

“But on top of that, there are new funds that need to be raised to at least to $120 million to $130 million to fund the programs all the way up to 2023,” he said.


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