Maya named among the most promising global fintech companies – Manila Bulletin
CB Insights named all-in-one money platform Maya to its fifth annual Fintech 250 ranking, which features the 250 most promising private fintech companies of 2022.
Maya, through its parent company Voyager Innovations, joins an elite international list that includes digital banks Revolut and N26, PayPal-backed payments processor Stripe, merchant platform Pine Labs and crypto platform Binance.
The citation is in recognition of Maya’s strong track record of execution as the only platform with a premier all-in-one money app, a leading merchant payment processing company, the MSME Network the most extensive on the ground and the fastest growing digital bank in the Philippines. It is powered by Maya Philippines for digital payments and Maya Bank for digital banking. Both companies are under Voyager Innovations.
“We are proud to be recognized alongside other pioneers in the global fintech space. Being on this list validates our goal of providing an integrated experience for our clients through our comprehensive digital financial ecosystem. It is also a testament to the world-class organization we have built,” said Shailesh Baidwan, Chairman of Maya Group and Co-Founder of Maya Bank.
“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investment and insurance,” said Brian Lee, senior vice president of CB Insights’ intelligence unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods and transforming the way traditional banking, insurance and investment products are delivered.”
CB Insights selected Maya as one of 250 winners from a pool of over 12,500 private companies, including applicants and nominees. The winners were chosen based on factors such as R&D activity, exclusive Mosaic sheet musicmarket potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength and technological novelty.
Since its transformation from PayMaya, the company has expanded beyond payments, bringing breakthrough digital banking innovations to its unique ecosystem of 51 million consumers and network of 1.2 million MSMEs.
Three months after its launch, Maya Bank has become the fastest growing digital bank in the Philippines, breaking records by registering more than PHP 5 billion in deposit balance and more than 650,000 banking customers in just three months after its launch. launch.
Maya Bank is also the only digital bank to offer loan products within a quarter of launch. It was able to scale quickly because it leveraged the rich transactional data pool of its payment business.
In March 2022, Maya, through its parent company Voyager Innovations, became the second tech unicorn in the Philippines, backed by global investors including KKR, Tencent, International Finance Corporation, IFC Emerging Asia Fund, IFC Financial Institutions Growth Fund, SIG Venture Capital, EDBI, First Pacific Company and PLDT.
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