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Ant-backed Philippine fintech Mynt targets 'double unicorn' status

GCash mobile wallet operator seeking $2bn valuation in next fundraising

Mynt, the startup behind the popular GCash financial services app, aims to become the Philippines' most valuable fintech company. (Screenshot from GCash's YouTube page)

MANILA -- Philippine fintech player Mynt aims to more than double its valuation to $2 billion in its future fundraising, a top executive told Nikkei Asia, a level that would make the Ant Group-backed payment provider the country's most valuable fintech company.

Mynt, the group behind the popular GCash app, closed a $175 million funding round in January that valued the company at nearly $1 billion. It has added 11 million users since then and is aiming to boost its financial firepower as competition from traditional banks and other digital challengers heats up.

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