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Philippines' Voyager raises $167 mln from KKR, Tencent

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Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid//File Photo

  • Tencent, KRR, PLDT invests further
  • Voyager welcomes World Bank unit as new investor
  • Philippines among the lowest in bank penetration in Asia

MANILA, June 28 (Reuters) - Philippine digital and financial services firm Voyager Innovations has raised $167 million for its expansion programme, including a venture into digital banking, its listed and largest shareholder said on Monday.

Shareholders PLDT Inc (TEL.PS), private equity firm KKR & Co Inc (KKR.N) and Chinese tech giant Tencent Holdings Ltd (0700.HK) participated in the funding round, PLDT said in a disclosure.

Voyager, which serves 38 million Filipinos through its consumer platforms that include e-wallet and digital payments, welcomed a unit of the World Bank Group's International Finance Corp (IFC) as a new investor.

The fintech firm said it applied for a digital banking license with the Philippine central bank, which has so far granted three firms an approval to operate.

Only a third of Filipinos have a formal bank account, among the lowest in Asia, giving fintech firms an attractive leeway for growth.

(This story corrects headline and paragraph 3 to show IFC is a unit of the World Bank Group, not the World Bank)

Reporting by Neil Jerome Morales; Editing by Martin Petty

Our Standards: The Thomson Reuters Trust Principles.

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