12 April was a big day in the Philippines’ tech world.
It was when fintech Voyager Innovations, the owner of payments and financial services app PayMaya, announced it had raised US$210 million at a valuation of US$1.4 billion. Voyager, thereby, became only the second unicorn in the country.
The Philippines’ other unicorn is Voyager’s rival Mynt, which operates the e-wallet GCash. It got there in November last year, when it raised US$300 million at a valuation of over US$2 billion.
Five months ago, the Philippines didn’t have a single billion-dollar company. Now, it has two.