Momo is an e-wallet and payments app that allows users to make payments and transfer money digitally.

MoMo offers a mobile, electronic wallet, and payment application for iOS and Android devices.

MoMo was founded in 2007 by Nguyen Ba Diep and Nguyen Manh Tuong. The is headquartered in Ho Chi Minh, Vietnam.

 

Momo started out offering digital payment via an e-wallet app. It has since expanded into utility bill payments and mobile top-up, as well as areas like movie tickets, airline flights and payment for goods and services at 100,000 payment points nationwide, including popular chains.

 

MoMo is also aiming to develop digital-first solutions for SMEs and micro-enterprises in Vietnam and also plans to roll out its services to those in more rural areas as well as smaller cities across the country.

 

MoMo's payment system partners with 24 domestic banks and foreign payment networks, including JCB, MasterCard, and Visa. The company has around 31 million customers.

 

MoMo is backed by Warburg Pincus, Mizuho Bank, Goodwater Capital, Affirma Capital Singapore, Ward Ferry, Kora Management, Macquarie Capital, and others. The company raised $200M in Series E round on Dec 21, 2021. This brings MoMo's total funding to $433.8M to date. The latest round valued the company at over $2B post-money.

 

 

  • Year founded: 2007
  • Funding Info: $433.8M over 5 Rounds (Latest Funding Type: Series E)
  • Yearly Revenue: NA
  • Employee Size: 501-1,000
  • Business Valuation: Valued at over $2B as of Dec 21, 2021
  • City/Town: Ho Chi Minh City
  • State: Ho Chi Minh
  • Country: Vietnam
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