Ayala Corporation Sells 50% Stake in GCash Parent to Mitsubishi

10 月 21 日

MANILA — Ayala has announced the sale of 50% of its stake in AC Ventures Holding Corporation, the parent company of fintech leader GCash, to Japan’s Mitsubishi Corporation for P18.4 billion.

Stake in GCash Parent Company

AC Ventures holds a 13% stake in Globe Fintech Innovations, known as Mynt, which operates GCash. This partnership with Mitsubishi aims to leverage its expertise in cloud-based payments and innovative credit algorithms, enhancing Mynt’s growth.

Enhancing GCash for Users

Cezar Consing, Ayala Corp.’s president and CEO, stated that Mitsubishi’s involvement will deliver greater value to Mynt’s 94 million registered users. “Our focus is on better serving Filipinos who rely on GCash and Fuse, expanding the range of financial products available to them,” he emphasized.

GCash’s Growing Valuation

GCash, the Philippines’ largest fintech platform, is valued at $5 billion. This comes after Ayala Corp. increased its stake and Mitsubishi UFJ Financial Group made a significant investment in the company. Executives believe GCash may soon surpass Globe, which is valued at around $6 billion.