MoMo attracts investor interest amid funding talks

MoMo has attracted interest from several global investors as it explores a potential investment round that could value the company at more than $2 billion.

According to Reuters, investment firms Blackstone and CVC Capital Partners, along with Japan’s Mitsubishi UFJ Financial Group (MUFG), are among parties considering an investment in the company. Binding offers are reportedly expected later this year, although the size of any stake and the outcome of the process remain undecided.

MoMo has not confirmed the discussions. Reuters reported that the company and Blackstone declined to comment, while CVC Capital Partners and MUFG did not respond to requests for comment.

Founded as a mobile payments platform, MoMo has expanded its offering to include digital lending, insurance, savings, investment products and merchant services. The company said it now serves more than 30 million users across Vietnam through its digital financial ecosystem.

The reported fundraising has come as Vietnam’s digital finance sector continues to expand, driven by increasing adoption of cashless payments and growing demand for digital financial services.

Reuters previously reported that MoMo had begun exploring options to attract new investors after receiving interest from both strategic and financial investors. The company has also been profitable since 2024, according to people familiar with the matter.

MoMo completed its last major funding round in 2021, raising $200 million from investors led by Mizuho Bank. The company has since outlined plans to broaden its range of financial services for consumers and small businesses.

While discussions with prospective investors are ongoing, Reuters noted that there is no certainty a transaction will be completed. Any investment would mark one of the largest FinTech funding deals in Vietnam and could further strengthen MoMo’s position in the country’s rapidly evolving digital payments and financial services market.