Voyager sets sights on fresh funds for enterprise segment

By Lorenz S. Marasigan @lorenzmarasigan

PLDT Inc. Chairman Manuel V. Pangilinan confirmed that the company will participate in this year’s fresh round of fundraising.

“I think there’s an effort to raise some money. [The amount is] anywhere between $100 million and

$150 million. I think the focus of attention is new stockholders but I think given market conditions I think the existing shareholders may have to participate for a portion,” he said at the sidelines of PLDT’s annual stockholders meeting on Tuesday.

Aside from PLDT, existing investors in Maya include KKR, Tencent, International Finance Corp. (IFC), IFC Emerging Asia Fund, and IFC Financial Institutions Growth Fund, SIG Venture Capital, EDBI, and First Pacific Company Ltd. Pangilinan noted that Voyager is now in talks with potential “foreign investors” for this round of fundraising.

As to when Voyager will post positive contribution to PLDT’s top line, Pangilinan quipped that it is “a mystery.”

“I think in the next two to three years, I think you should be okay. I think the recovery will be led by the enterprise part of the business— merchant acquiring—and by the bank. I think if they’re able to really grow that loan book because they have no problem in growing their deposit levels,” Pangilinan said.

“So they have a lot of money to lend and they should be able to do that in time. So it just is just a question of time that they will produce profits enough to compensate for the losses flowing from the digital wallet because GCash is way ahead of Maya.”

Aside from its e-wallet, the Maya app houses its digital bank called Maya Bank, offering different financial technology solutions such as savings, loans, and credit, among others.

It also has an enterprise arm called Maya Business, which offers payment solutions to merchants in the Philippines.