M_Service JSC, the operator of mobile e-wallet MoMo, on March 17 announced it has received an investment worth 28 million USD from Standard Chartered Private Equity (SCPE) and the global investment banking firm Goldman Sachs.

SCPE invested 25 million USD, while Goldman Sachs put in an additional 3 million USD on top of its initial 5.75 million USD investment in 2013.

MoMo provides the smartphone app e-wallet service and an over-the-counter (OTC) remittance and payment platform. It has more than 1 million mobile e-wallet customers in Vietnam .

Some 4,000 MoMo transaction points are already in service in 45 cities and provinces across Vietnam, allowing about 1.5 million customers access to financial services.

VNA