Global investment firms are reportedly preparing bids for a stake in Vietnamese financial technology company MoMo, in a transaction that could value the digital payments business at more than $2 billion. The potential deal signals continued international interest in Southeast Asia’s rapidly developing financial services market.
Binding bids expected in September
Blackstone, CVC Capital Partners and Japan’s Mitsubishi UFJ Financial Group are among the prospective bidders, according to people familiar with the process. Binding offers are expected in September 2026.
The precise size of the stake has not been finalised, but it could be significant and potentially reach 50 per cent. The discussions remain ongoing, meaning there is no guarantee that the process will result in a completed transaction.
Investment banks Jefferies and Morgan Stanley were reportedly appointed earlier this year after MoMo received interest from potential investors. The company has not publicly commented on the sale process.
From digital wallet to financial super app
Founded in 2010, MoMo began as a mobile payments platform before expanding into a broader financial services application. Its services now include electronic payments, consumer lending, insurance, savings, investments and tools for merchants.
The company has more than 30 million users and operates an extensive digital transaction network across Vietnam. It has also been profitable since 2024, an important distinction in a fintech sector where many fast-growing companies continue to prioritise expansion over earnings.
MoMo’s most recent major fundraising round took place in 2021, when it raised approximately $200 million in an investment led by Japan’s Mizuho Bank.
Vietnam’s cashless economy gains momentum
The possible investment comes as digital payments become increasingly important to Vietnam’s economy. The value of the country’s digital payment transactions was projected to rise from $150 billion in 2024 to $178 billion in 2025, according to Bain & Company’s e-Conomy SEA report.
That figure could reach between $300 billion and $400 billion by 2030. For established platforms such as MoMo, the growth creates opportunities to sell a wider selection of financial products to consumers and small businesses already using their payment services.
A large strategic or private-equity investor could provide additional capital, international expertise and commercial relationships as MoMo expands. An immediate initial public offering, however, is reportedly not on the company’s agenda.
A standout deal in a quieter funding market
The potential sale is particularly notable because fintech investment across Southeast Asia has softened. Companies in the region raised approximately $682 million during the first half of 2026, down 4 per cent from the same period a year earlier.
The number of completed funding rounds fell from 50 to 34, while early-stage investment declined by 23 per cent. Singapore continued to attract most of the region’s fintech capital, followed by the Philippines and Malaysia.
Against that backdrop, a multibillion-dollar valuation for MoMo would demonstrate that investors remain prepared to support large fintech businesses with extensive customer networks, diversified services and a credible path to sustainable profitability.
Newshub Editorial in Asia – 26 August 2026
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