MoMo calls for more capital, plans an IPO

MoMo calls for more capital, plans an IPO

MoMo has just announced the completion of the fourth round of fundraising (Series D) from foreign investors. Among these investors are new investors including Goodwater Capital, Kora Management and Macquarie Capital, as well as existing shareholders Warburg Pincus, Affirma Capital, and Tybourne Capital Management.

This fundraising round is led by Goodwater, a financial investment fund from Silicon Valley (USA) and Warburg Pincus.Talking to the press, Mr. Nguyen Manh Tuong, Executive Vice President & Co-General Director of MoMo said that most of the newly raised funds will be used to build a new Super Application platform, upgrade the system. MoMo’s ecology aims to serve users and business partners in Vietnam.

“The bulk of the money goes on to build products, build connections, invest in technology. We built a research lab, invested in deep research on “deep learning” technology, on AI. That is the key task in the investment capital this time “, said Mr. Tuong.In addition, MoMo will invest about 20% of new capital in Vietnamese technology companies with strategic orientations in line with building the ecosystem that MoMo aims to.

“These companies can grow quickly, and they can reach our large customer base and we will help drive Vietnam’s innovation ecosystem through this activity. We have also begun to talk to corporate companies about this issue, ”said MoMo’s General Director.

Talking about the plan to publicize (IPO), Mr. Nguyen Ba Diep, Co-Founder, Vice Chairman of MoMo Wallet said that the company really wants and also plans to conduct an IPO so that the company has more resources to recover. for the development process. Currently the company is preparing for this plan.

Source: bizlive.vn – Translated by fintel.vn

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