By Ben Otto

Philippine fintech startup Mynt has secured more than $300 million in a funding round led by Warburg Pincus and others that values the company at more than $2 billion.

Mynt, which backs Philippine payment services app GoCash, said Tuesday that the investment was also led by U.S. private equity and venture capital firm Insight Partners and existing investor Bow Wave Capital.

The round also included Itai Tsiddon and Amplo Ventures, along with capital from Philippine conglomerate Ayala Corp. and Globe Telecom Inc.

Mynt, a venture of Globe, Ayala and Alibaba Group Holding's Ant Financial, said it was on track to hit 3 trillion Philippine pesos ($59.5 billion) in gross transaction value, up three times from last year.

"Mynt has a dominant market position in the Philippines and is well-positioned with its best-in-class management team, innovative technology, and superior product offerings," said Saurabh Agarwal, managing director of Warburg Pincus.

Taguig-based Mynt offers financial services including credit, savings, insurance, loans and investments.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

11-01-21 2141ET