MoMo, one of Vietnam's leading e-wallets, is weighing options, including bringing in new strategic or financial investors, at a valuation of more than $2 billion, according to sources familiar with the matter. The Ho Chi Minh City-based company has engaged investment banks Jefferies and Morgan Stanley to manage the process, people with knowledge of the discussions said, as reported on 7 April 2026. The sources said discussions were at an early stage and might not result in a deal.
MoMo's last major funding round was in 2021, when Japan's Mizuho Bank led a $200 million investment. Sources indicated that an initial public offering is not on MoMo's immediate agenda.
PROFITABILITY AND TRANSACTION VOLUME SUPPORT CASE
MoMo reported that it has been profitable since 2024 and counts more than 30 million registered users. The company processed 5.5 billion transactions in the first quarter of 2025.
Originally launched as a mobile top-up service, MoMo has grown into a super app offering payments, credit, insurance, savings, investments and merchant services. Vietnam's digital payments market is projected to grow from $150 billion in 2024 to $300-400 billion by 2030, according to industry estimates.
The Mizuho-led round in 2021 was reported to have lifted MoMo's valuation above $2 billion, so the figure cited in the current process suggests a valuation broadly in line with that earlier benchmark.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn