Mitsubishi Invests $322M in Ayala-Backed GCash Stake Deal

Ayala Corp. has signed an agreement with Mitsubishi Corp. to divest half of its stake in AC Ventures Holding Corp., the investment arm that owns 13% of Mynt, operator of the Philippine digital wallet GCash. The transaction, valued at 18.4 billion Philippine pesos—approximately $322 million—will result in both parties holding equal ownership of AC Ventures.

Deal reshapes equity structure in Philippine fintech

As outlined in a recent disclosure to the Philippine Stock Exchange, the transaction involves Mitsubishi Corp. subscribing to 18 million common and redeemable preferred shares of AC Ventures Holding Corp.. This development gives Mitsubishi a 6.5% indirect stake in Mynt, a key player in the Southeast Asian fintech sector. The restructuring of the shareholder composition comes amid growing competition and investor interest in digital financial platforms across the region.

Joint control over AC Ventures

Following the investment, Ayala Corp. and Mitsubishi Corp. will each control 50% of AC Ventures, aligning their influence over the firm’s strategic direction. AC Ventures retains its 13% stake in Mynt, which in turn oversees both G-Xchange Inc., the entity running GCash, and Fuse Lending, a microfinancing unit. The agreement underlines Ayala’s ongoing efforts to diversify partnerships within its digital portfolio.

Ayala sees strategic value in Mitsubishi's entry

Ayala Corp. President and CEO Cezar Consing previously stated that the involvement of Mitsubishi “could add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.” His remarks suggest the collaboration is expected to support Mynt’s operations, particularly in addressing the needs of its growing customer base.

Broader implications for regional fintech

The investment illustrates how Japanese corporations are increasingly targeting Southeast Asia’s financial technology sector. GCash, already one of the most widely used digital wallets in the Philippines, has become a focal point for strategic partnerships aimed at scaling mobile financial services. As traditional conglomerates like Ayala and global players like Mitsubishi recalibrate their positions, the development signals heightened competition in digital finance infrastructure and innovation in the region.