Mizuho Invests in Vietnam’s MoMo, Sends Value to $2 Billion (1)

Vietnam’s M_Service JSC, which operates Warburg Pincus LLC-backed fintech app MoMo, crossed $2 billion in valuation after raising about $200 million from investors led by Mizuho Bank.

Ward Ferry Management and existing shareholders Goodwater Capital LLC and Kora Management also joined the Series E funding, MoMo said in a statement. The latest funding gives the company a valuation of more than $2 billion, Nguyen Manh Tuong, co-founder of the Ho Chi Minh City-based startup, said in an interview.

The company in January raised more than $100 million, people familiar with the matter have said. MoMo has no plans ...