Globe’s Mynt is on Southeast Asia 35 Unicorns list

MANILA, Philippines — Mynt, the company that operates e-wallet GCash, has made it to Credit Suisse’s Southeast Asia 35 Unicorns list, the only Philippine startup to do so.

The latest ASEAN Equity Research titled ASEAN Unicorns, Scaling New Heights looks at the top startup companies in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines.

Globe Telecom Inc. said the list highlights technology companies in several industries and countries in the sub-region that are valued at over $1 billion or wherein the last funding round was at least $800 million and backed by strong business momentum.

“Wallet sizes are increasing, credit traffic flow is accelerating and use cases are widening, and Mynt has been able to capitalize on these trends with the transformation of its GCash service to a super app that includes e-commerce (GLife) and financial services (lending, insurance, savings  and investments),” the report said.

Mynt enables financial access for consumers and merchants through services that include payments, remittances, loans, business solutions and platforms.

The company attracted fresh capital investment in the middle of last year from ASP Philippines LP, a limited partnership fund managed by Bow Wave Capital Management.

It raised over $175 million in fresh capital from both Bow Wave and its existing shareholders, across multiple tranches, with a post-money valuation of the final tranches at close to $1 billion.