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Mizuho Invests in Vietnam’s MoMo, Sends Value to $2 Billion

  • M_Service JSC raises about $200 million from the funding
  • MoMo to focus on strengthening market position and products
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Vietnam’s M_Service JSC, which operates Warburg Pincus LLC-backed fintech app MoMo, crossed $2 billion in valuation after raising about $200 million from investors led by Mizuho Bank.

Ward Ferry Management and existing shareholders Goodwater Capital LLC and Kora Management also joined the Series E funding, MoMo said in a statement. The latest funding gives the company a valuation of more than $2 billion, Nguyen Manh Tuong, co-founder of the Ho Chi Minh City-based startup, said in an interview.