Voyager straps up for its next-phase expansion by the end of 2019

Date: 2019-08-12   Author: Pankaj Singh  Category: #news

Voyager straps up for its next-phase expansion by the end of 2019

PLDT remains the single largest investor in Voyager, helping the startup to be afloat.

VOYAGER Innovations Inc., an e-commerce site based out of Philippines, is apparently preparing for a new round of funding toward the end of 2019, as it starts its expansion for the next phase.

Speaking on the announcement, Manuel V. Pangilinan, chairman, PLDT Inc. (Philippine Long-Distance Telephone Company), said that the company is helping Voyager to secure the next round of funding which will finance Voyager’s programs for future years and make the management comfortable.

He was reported to say that Voyager would receive a new round of funding towards the end of 2019 which will be discussed with all the partners.

Additionally, Voyager, which is the parent company for numerous digital services that are aimed at developing financial technology, managed to raise a total of $215 million in fresh capital with the help of investors like World Bank’s International Finance Corp, KKR, global investors Tencent Holdings Ltd. and IFC Emerging Asia Fund, making it the biggest private fund-raising Filipino tech company. 

Reportedly, the estimations this year appears to be really promising for Voyager, when compared with last year’s net loss of P3-billion. As per sources, the company managed to record a net loss of P600 million for the first half of 2019, which is normal for tech start-ups who work on this magnitude and scale.

However, Pangilinan said that his firm is appointing a highly capable president for Voyager in the form of Shailesh Baidwan, Finance Executive. The company has high expectations from Shailesh Baidwan and bestowed him with the role of president, in order to help Voyager shape its strategy and business directions.

For the uninitiated, Voyager Inc. is a Philippines based tech company focused on designing, developing and producing applications that zero in on critical pain points by offering financial services and digital consumer engagement, e-commerce and marketing platforms.

Source Credit: https://businessmirror.com.ph/2019/08/12/voyager-gears-up-for-new-funding-round-for-next-phase-expansion/



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Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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