VN’s Momo e-wallet 10th most well-funded start-up in region

Thursday, Mar 21, 2019 17:56

Vietnamese start-up Momo was featured in the ten most well-funded tech start-up in Asia and the Pacific region. — Photo

Vietnamese start-up Momo was recently ranked as the 10th most well-funded tech start-up in the Asia-Pacific region by global information services firm CBInsights.

The e-wallet and payments app had total disclosed funding of US$134 million as of the end of February.

The app has an estimated 10 million users.

The most well-funded company in the region was Payments Unicorn Ant Financial Services Group in China, with disclosed funding of more than $19.14 billion.

Rounding out the three most well-funded start-ups in the region were on-demand ride-hailing company Grab in Singapore with $8.5 billion and Olacabs in India with $4 billion.

Six of the 20 companies featured in the list were unicorns valued at $1 billion or more.

CBInsights’ statistics also showed that since 2012, nearly $208 billion has been invested across over 8,500 equity deals to tech start-ups in Asia-Pacific. — VNS

Comments (0)