Blackstone, CVC Capital Partners, and Japan’s MUFG are among bidders for a stake in Vietnamese fintech firm MoMo as it presses ahead with a partial sale, two people with direct knowledge of the matter said.
Company Overview
MoMo, founded in 2010, has grown from a mobile payments platform into a financial services app spanning payments, consumer lending, insurance, savings, investment, and merchant tools in Vietnam’s fast-growing economy.
The digital payments company, which has been profitable since 2024, engaged with advisors to run the process after receiving interest from strategic and financial investors. Binding bids are due in September, and the stake size has not been finalized.
MoMo said it currently serves more than 30 million users and has built a broad nationwide network for digital transactions. The investor interest comes as Vietnam’s digital financial services market expands, helped by the growth of cashless payments and wider use of online financial products and services.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
