Do unicorns exist in today’s business world? Yes they do! A “unicorn” is a private startup with a valuation of over one billion dollars.
Phillippine startup Globe Fintech Innovations or Mynt, the operator of mobile wallet GCash, is nearing “unicorn” status after securing a recent fresh capital infusion, making its valuation close to one billion dollars.
Mynt’s parent firm Globe Telecom said the GCash operator attracted fresh capital investment from ASP Philippines, a limited partnership fund managed by investment firm Bow Wave Capital Management “to further spur the growth of financial inclusion and the digitization of payments and financial services in the Philippines.”
With this, Mynt raised over 175 million dollars in fresh capital from Bow Wave and its existing shareholders in multiple tranches.
Post-transaction, the GCash operator’s valuation is now close to an enviable one billion dollars, according to Globe.