The Standard Chartered-backed owner of digital wallet Momo will use the funding to launch its own strategic investment subsidiary.

M-Service, the Vietnam-based payment technology provider backed by financial services firm Standard Chartered, has raised more than $100m in series D funding, DealStreetAsia reported yesterday.

Venture capital firm Goodwater Capital and private equity firm Warburg Pincus co-led the round, which also featured Kora Management, Macquarie Capital, Affirma Capital and Tybourne Capital Management.

M-Service is the owner of Momo, a mobile wallet with 23 million registered users that offers one-touch online payment to its users through partnerships with 28 Vietnamese banks.

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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