Some of the world’s biggest investment names are reportedly vying for a piece of a prominent Vietnamese financial technology company, according to two sources with direct knowledge of the situation.
Blackstone, CVC Capital Partners, and Japan’s MUFG are among the firms that have submitted bids for a stake in MoMo, a digital finance platform based in Vietnam. The sources, who asked not to be identified because the matter is confidential, said final binding bids are expected to be submitted in September.
The exact size of the stake being offered has not yet been determined, though one source indicated the sale could involve a substantial portion of the company. A third source familiar with the process said the stake could be as large as 50%.
MoMo, CVC, and MUFG did not respond to requests for comment, and Blackstone declined to comment.
MoMo was established in 2010 and has evolved well beyond its origins as a mobile payments tool. Today, the platform offers a wide range of financial services to Vietnamese consumers, including consumer lending, insurance, savings, investment options, and tools for merchants — all within one of Southeast Asia’s fastest-growing economies.
Reuters first reported in April that MoMo was weighing strategic options, potentially including new investors, at a valuation exceeding $2 billion. The company has been profitable since 2024 and brought in outside advisors to manage the process after drawing interest from both strategic and financial investors.
The sources cautioned that the process is still ongoing and may not ultimately result in a transaction.
MoMo currently counts more than 30 million users and operates an extensive nationwide network for digital payments across Vietnam.
The interest from major investors reflects the broader expansion of Vietnam’s digital financial services sector, driven by increasing adoption of cashless transactions and growing demand for online financial products.
The company’s most recent significant fundraising occurred in 2021, when it secured $200 million in a round led by Mizuho Bank. MoMo announced last year that it was broadening its offerings for individual consumers and small businesses as part of an expanded digital finance strategy.
