GCash, the Philippines' leading mobile wallet and finance super app, has reached a remarkable milestone by becoming the country's first and only unicorn valued at $5 billion. This impressive valuation was achieved through strategic investments from Ayala Corporation and Mitsubishi UFJ Financial Group (MUFG), two of the most prominent players in the global financial and business sectors. This funding round not only highlights GCash's rapid growth but also underscores its critical role in advancing financial inclusion in the Philippines.

The parent company of GCash, Globe Fintech Innovations, Inc. (known as Mynt), received fresh investments from Ayala Corporation and MUFG. The backing from these two giants has more than doubled Mynt's valuation from $2 billion in 2021 to $5 billion today.

• Ayala Corporation: One of the Philippines' oldest and largest conglomerates, Ayala has a diverse portfolio that includes real estate, banking, telecommunications, and more. Through its subsidiary, AC Ventures Holdings, Inc., Ayala increased its stake in Mynt to 13% by purchasing an additional 8% for PHP 22.9 billion (approximately $408 million). This move aligns with Ayala's strategy to invest in high-growth sectors and contributes to the Philippine economy.

• Mitsubishi UFJ Financial Group (MUFG): As Japan’s largest banking group and one of the biggest financial institutions globally, MUFG's investment in GCash marks a significant entry into the Southeast Asian fintech market. MUFG acquired an 8% stake in Mynt, reinforcing its commitment to expanding its influence in the region's digital economy and supporting financial inclusion efforts.

Both Ayala and MUFG share a vision of enhancing financial inclusion in the Philippines. Financial inclusion means ensuring that individuals and businesses have access to affordable and useful financial products and services, which are crucial for economic growth and stability.

GCash has become a vital financial tool for millions of Filipinos, providing services such as money transfers, bill payments, and microloans. With the additional investment from Ayala and MUFG, GCash aims to further expand its reach and improve its services, especially for underserved communities who traditionally have limited access to financial services.

Martha Sazon, President and CEO of Mynt, expressed enthusiasm for the partnership, highlighting that MUFG’s global expertise and Ayala’s local influence would be pivotal in driving GCash’s mission forward. “With their support, we aim to make financial health and wellness accessible to every Filipino, particularly those who are underserved,” she stated.

Yasushi Itagaki, Senior Managing Corporate Executive at MUFG, emphasized the importance of GCash as a cornerstone of daily life in the Philippines. He remarked, “Our investment is not just about capital; it’s about being part of a movement towards digital transformation and financial inclusivity in the country.”

Cezar Consing, President and CEO of Ayala Corporation, shared similar sentiments, recognizing Mynt's leadership in the fintech space as a significant contributor to the Philippines' economic development. He noted that Mynt's innovative approach empowers consumers and businesses to thrive, particularly in underserved sectors.

The partnership with Ayala and MUFG sets the stage for GCash to enhance its offerings and tap into new opportunities within the digital finance landscape. This investment is expected to fuel innovations that will make financial services more accessible and user-friendly.

As GCash continues to grow its user base and expand its range of services, the company remains committed to its core mission: to democratize access to financial services and improve the financial well-being of Filipinos across the nation.

• Mynt (Globe Fintech Innovations, Inc.): As the parent company of GCash, Mynt is a pioneer in the Philippine fintech industry. It operates two primary businesses: GCash, the top finance super app, and Fuse Lending, which provides accessible loan options to Filipinos.

• Ayala Corporation: With a legacy spanning over 190 years, Ayala is a cornerstone of the Philippine economy, with interests in various industries, including real estate, telecommunications, and financial services. Ayala is known for its commitment to sustainable development and corporate social responsibility.

• Mitsubishi UFJ Financial Group (MUFG): A leading financial group based in Japan, MUFG has a vast global network offering a wide range of banking and financial services. The group's investment in Mynt signifies its dedication to expanding its presence in Asia and promoting financial inclusion.

• Globe Telecom, Inc.: A leading telecommunications company in the Philippines, Globe is a major stakeholder in Mynt. It provides a wide array of digital services and has been a key driver of technological advancement in the country.

The journey of GCash from a digital payment platform to a $5 billion unicorn reflects its significant impact on the Philippine economy and its potential to reshape the financial landscape. As GCash continues to grow, its partnerships with Ayala and MUFG will play a crucial role in achieving its vision of a more financially inclusive future for all Filipinos.