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Philippine fintech Mynt hits $2bn valuation after fundraising

$300m funding round is company's largest ever, underscores its unicorn status

Mynt owns GCash mobile wallet, a widely used app for merchant payments and money transfers in the Philippines. (File photo by AP)

MANILA -- Mynt, the Philippine fintech backed by Ant Group, on Tuesday said it had raised over $300 million from new and existing investors in its largest-ever fundraising, valuing the company at over $2 billion.

New investors U.S. fund Warburg Pincus and venture capital firm Insight Partners led the third funding round for Mynt, which owns the hugely popular GCash mobile wallet. The move underscores the company's position as the Philippines' lone unicorn, defined as a tech startup valued at $1 billion or more.

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