Maya, A Fintech Powerhouse in The Philippines, Eyes U.S. IPO
Philippines-based fintech firm, Maya, is reportedly contemplating a public listing in the United States, a move that could potentially generate between $500 million to $1 billion, according to Bloomberg. Advisers are said to be working with Maya on a possible Initial Public Offering (IPO) that could materialize as early as this year.
Maya’s Growth and Expansion
While discussions are still ongoing, it’s noted that both the timing and amount raised through the IPO could change. In response to these reports, Maya stated it does not comment on “market speculation”. The digital bank is currently focusing on expanding its range of financial services within the Philippines.
According to data from PLDT, a major backer of Maya, the digital bank had 5.4 million customers and provided 68 billion pesos ($1.2bn) in loans in 2024. Additional notable investors include KKR, Tencent Holdings, and the International Finance Corp. of the World Bank.
The Growing Trend of Overseas Listings
The consideration of overseas listings by Southeast Asian firms, like Maya, comes as some domestic markets lag behind regional indices. Maya Bank is the digital banking arm of Voyager Innovations and operates under the supervision of the Bangko Sentral ng Pilipinas (BSP).
Maya Bank offers digital banking services to both individual and business clients. Its offerings include the Maya all-in-one app, Maya Business, and Maya Center.
Other Southeast Asian Firms Eyeing IPOs
Another Philippines-based fintech company, GCash, has reportedly delayed its planned IPO on the Manila exchange until at least the second half of 2026. The country’s securities regulator had stated last year that it would look to ease free-float requirements for IPOs, as part of its initiative to attract more large companies to list locally.
As Maya explores the possibility of a U.S. IPO, it exemplifies the growing trend of Southeast Asian fintech firms considering overseas listings as a means to expand their reach and scale their operations.
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