Vietnamese payment unicorn MoMo readies for retail banking play with Japan’s Mizuho

Warburg Pincus-backed Vietnamese digital payments app MoMo could soon transform into a retail bank-like business, following its $200 million Series E fundraising led by Japan’s Mizuho Bank in December last year. It is also adding more services that will help it to reposition itself as a superapp.

The Series E funding, which made MoMo a unicorn, marked a rare milestone in the collaboration between a bank and a Vietnamese fintech player.

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