Vietnamese Payments Startup, M_Service Secures $28m in Funding

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Vietnamese Payments Startup, M_Service Secures $28m in Funding

Postby kreslik.news » Wed Mar 16, 2016 10:46 am


Vietnamese startup M_Service, an operator of mobile e-wallet MoMo, has been revitalized by a duality of private equity investments from both Standard Chartered Plc and Goldman Sachs, collectively accounting for a figure of $28 million, according to a recent Reuters report.

MoMo is a smartphone app that helps provide e-wallet services and over-the-counter (OTC) remittance and payment platform to an aggregate customer base of 2.5 million people. The service itself also boasts more than 1 million mobile e-wallet customers.

The latest investment by private-equity arms of Standard Chartered Plc and Goldman Sachs helps tap into a Vietnamese market that is on pace ... (read more)

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