The all-in-one
monetary app Maya joins a rising listing of Southeast Asian fintechs wanting
previous their dwelling markets for capital. The timing and dimension of the providing might
nonetheless change as the corporate gauges market circumstances, based on Bloomberg.
The fintech
operates a full-service digital banking platform the place customers should buy shares and
cryptocurrencies, earn curiosity on financial savings, ship funds, and handle debit and
bank cards.
In accordance
to the newest annual report, Maya’s digital financial institution served 5.4 million
prospects and disbursed 68 billion pesos ($1.2 billion) in loans throughout 2024.
Tough Waters for New
Listings
Maya’s IPO
plans come at a tough second for firms making an attempt to go public. A number of
companies have pulled or
downsized their US listings in current weeks after traders pushed again on valuations.
Wall Avenue
dealer Clear Avenue postponed its IPO in mid-February after slashing its
fundraising goal by 65 p.c, citing market circumstances. Blackstone-backed
Liftoff Cell equally delayed its New York itemizing following a selloff in
software program shares.
Brazilian
fintech Agibank managed to finish its US debut this month, however solely after
slicing each its deal dimension and worth vary by greater than half. The inventory
promptly fell 15 p.c from its supply worth.
Goldman
Sachs analysts anticipate the variety of IPOs to double to 120 this 12 months, however warned
that volatility and valuation scrutiny stay vital headwinds.
Corporations
with publicity to fintech and crypto face further skepticism. even these
that made it to market have struggled, with buying and selling platform eToro down roughly 60
p.c since its Wall Avenue debut almost a 12 months in the past.
Regional Rivals Taking
Totally different Routes
Maya is not
the one Philippine fintech weighing its choices. GCash, its important competitor in
the digital funds area, postponed a deliberate Manila IPO to the second half
of 2026. The nation’s securities regulator has proposed enjoyable free-float
necessities to draw bigger firms to the native trade, which has
underperformed regional benchmarks.
The MSCI
Philippines Index gained simply over 12 p.c up to now 12 months, trailing the
broader MSCI AC Asia Pacific Index. That efficiency hole has pushed some
Filipino firms to contemplate abroad listings.
Quick meals
chain Jollibee Meals stated it plans to listing its worldwide enterprise within the
United States, whereas different Southeast Asian companies are eyeing Hong Kong for share
gross sales.
From Funds to
Full-Service Banking
Maya
began as PayMaya, a cellular pockets for QR code funds and cash transfers.
The corporate has since constructed out a regulated digital financial institution that gives financial savings
accounts with rates of interest reaching 15 p.c yearly, instantaneous loans of up
to 250,000 pesos for shoppers and a couple of million pesos for small companies, and
funding merchandise together with cryptocurrencies like Bitcoin and Ethereum
alongside mutual funds.
The corporate is backed by Philippine telecom big PLDT
and a roster of worldwide traders together with KKR, Tencent, and the World
Financial institution’s Worldwide Finance Company.
The
platform makes use of transaction information and AI-driven credit score scoring to approve loans
with out conventional collateral necessities, a mannequin that has resonated in a
nation the place formal banking penetration stays low.
About 70
p.c of Maya’s prospects dwell exterior Metro Manila, the place the corporate has
seen significantly robust progress in lending and financial savings exercise.
This text was written by Damian Chmiel at www.financemagnates.com.
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