Mitsubishi Invests P18.4B in GCash Operator Mynt Through ACV Ventures

Japanese conglomerate Mitsubishi Corporation is investing approximately $320 million (P18.4 billion) in ACV Ventures Holdings Corporation, a subsidiary of Ayala Corporation. This investment involves acquiring a 50% stake in ACV, which holds a 13% interest in Globe Fintech Innovations Inc. (Mynt), the operator of the popular GCash app and fintech micro-lender Fuse Lending.

This move strengthens Mitsubishi’s involvement in the growing Philippine digital finance sector, where GCash has around 94 million registered users. Ayala Corporation expects Mitsubishi’s expertise in cloud-based payments and credit algorithms to help expand Mynt’s reach both locally and globally.

Mitsubishi and Ayala will also sign a memorandum of understanding (MoU) to explore additional business collaborations aimed at stimulating economic growth in the Philippines.