PLDT closes $175-M investment in Voyager from KKR, Tencent

ABS-CBN News

Posted at Nov 28 2018 03:47 PM

MANILA - PLDT said Wednesday it closed a $175-million investment in its financial technology unit Voyager Innovations from global firm KKR and Chinese giant Tencent Holdings.

In October PLDT announced that KKR and Tencent were subscribing to newly-issued shares in Voyager, which would give them a substantial minority stake in the telco's subsidiary. 

"Voyager can now step up its efforts to make its innovative financial and internet platforms more accessible to more Filipinos in more parts of the country," PLDT chairman and CEO Manuel V. Pangilinan said in a disclosure to the stock exchange.

The World Bank group's International Finance Corporation and IFC Emerging Asia Fund also committed to invest $40 million in Voyager, PLDT said Monday. 

Voyager is behind PLDT financial technology services such as PayMaya, PayMaya Business, Smart Padala, Lendr and freenet.