Investors eye up to 50% stake in Vietnamese fintech unicon MoMo at $3 bln valuation

Investors are considering acquiring up to a 50% stake in MoMo from existing shareholders in a deal that could value the Vietnamese digital payments unicorn at as much as $3 billion, underscoring growing investor interest as the company enters a profitable phase.

According to a report by Fintech News Singapore citing DealStreetAsia on June 22, discussions are centered on a secondary share sale rather than a capital raising, with prospective investors seeking to purchase stakes from current shareholders.

If completed at the reported valuation, the transaction would rank among the most significant fintech deals in Vietnam in recent years.

The reported $3 billion valuation exceeds estimates cited by Reuters in April, when the news agency reported that MoMo was exploring strategic options, including bringing in new investors, at a valuation of more than $2 billion. Reuters also said the company had hired Jefferies and Morgan Stanley to advise on talks with potential investors.

MoMo's improving financial performance has strengthened its investment case. Reuters reported that the company turned profitable in 2024 after years of prioritizing user growth and ecosystem expansion, reflecting a broader shift in investor preferences toward technology firms with sustainable earnings and cash generation.

Founded in 2010, MoMo has evolved from an e-wallet into a broader digital financial platform offering services including payments, money transfers, savings, insurance, investments and business solutions.

The company has previously said it serves more than 30 million users nationwide, while industry reports indicate it processed around 5.5 billion transactions in the first quarter of 2025.

At a $3 billion valuation, the implied enterprise value would equate to roughly $100 per existing user, highlighting investor expectations for future monetization of MoMo's customer base, although user-based metrics are not a standard valuation methodology.

The potential deal also reflects optimism about Vietnam's fast-growing digital payments market. Reuters, citing the e-Conomy SEA report, has projected that the country's gross transaction value for digital payments could rise from about $150 billion in 2024 to $178 billion in 2025 before reaching between $300 billion and $400 billion by 2030.

The willingness of investors to consider valuing MoMo at up to $3 billion suggests continued confidence in the long-term growth prospects of Vietnam's fintech sector.