MoMo has attracted interest from major global investors as it weighs new backing at a possible valuation above US$2 billion, Reuters reported, citing people familiar with the process.
Blackstone, CVC Capital Partners and Japan’s MUFG are among parties pursuing a stake in the Vietnamese fintech.
Binding offers are expected in September. The final stake size has not been set, though one person familiar with the process put it at up to 50%.
MoMo and Blackstone declined to comment. CVC and MUFG did not respond to Reuters.
Founded in 2010 as a mobile payments platform, MoMo has since expanded into lending, insurance, savings, investments and merchant services.
The possible deal comes as Vietnam’s digital finance market grows, supported by rising cashless payments and wider use of online financial services.
Reuters reported in April that MoMo had been assessing options to bring in new investors.
The company has been profitable since 2024 and began working with advisers after drawing interest from strategic and financial investors.
The process remains ongoing and may not lead to a transaction.
MoMo says it serves more than 30 million users and has built a nationwide network for digital transactions.
The company last announced a major fundraising round in 2021, raising US$200 million from investors led by Mizuho Bank.
Last year, it outlined plans to expand services for consumers and small businesses.
Featured image: Edited by Fintech News Singapore, based on image by jannoon028 via Magnific
