KKR Looks to Sell Stake in Philippine FinTech Maya

Group 1: Company Overview - KKR is looking to sell its minority stake in Maya, a Philippine FinTech company with 5.4 million customers, potentially valuing Maya at over $2 billion [1] - KKR owns more than 20$1.4 billion in its most recent funding round, raising $210 million in April 2022 [2] - The company achieved unicorn status as the owner of FinTech PayMaya and neobank Maya Bank during this funding round [2] - Previous funding rounds included$167 million in June 2021, $120 million in April 2020, and$215 million in 2018 [3] Group 3: Services and Expansion - Maya plans to use the funds from its funding rounds to launch new services for Maya Bank, including savings and credit, and expand PayMaya's offerings with cryptocurrency and micro-investments insurance [3] - The company rebranded its PayMaya mobile wallet to Maya in April 2022, expanding its services to include digital banking and crypto features [4] - Maya Bank was launched six months after receiving a digital banking license from the Bangko Sentral ng Pilipinas (BSP) [4] Group 4: Industry Context - Mynt, the owner of GCash, was valued at $5 billion in August 2022, indicating strong competition in the Philippine digital wallet market [5] - GCash has reached 94 million users, approximately 78% of the Philippine population, highlighting the growing adoption of digital wallets in the country [5]