Key facts
- Blackstone, CVC Capital Partners, and MUFG are reportedly bidding for a stake in Vietnamese fintech MoMo.
- Binding bids for the stake are expected in September.
- The stake on offer could be as much as 50% of the company.
- MoMo is valued at over $2 billion and serves more than 30 million users.
- The company has been profitable since 2024.
Blackstone, CVC Capital Partners, and Japan's MUFG are among the potential bidders vying for a stake in Vietnamese fintech firm MoMo, according to sources with direct knowledge of the matter. Binding bids for the partial sale are expected to be submitted in September.
The exact size of the stake being offered has not yet been finalized, though one source indicated it could represent a significant holding, potentially as much as 50% of the company. MoMo, founded in 2010, has evolved from a mobile payments platform into a comprehensive financial services application, offering payments, consumer lending, insurance, savings, and investment tools in Vietnam's rapidly expanding digital economy.
Reuters previously reported in April that MoMo was exploring strategic options, including new investors, which could value the company at over $2 billion. The digital payments company has been profitable since 2024 and engaged advisors to manage the sale process after attracting interest from both strategic and financial investors. However, the sources cautioned that the process is ongoing and may not necessarily result in a deal.
MoMo currently boasts over 30 million users and has established a wide-reaching network for digital transactions across Vietnam. The heightened investor interest coincides with the significant growth in Vietnam's digital financial services market, fueled by the increasing adoption of cashless payments and online financial products.