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Voyager Innovations , the Manila-based owner of PayMaya , one of the Philippines’ most popular payment and financial services apps, announced today it has raised $167 million in new funding to launch more financial services, including a digital bank. Voyager’s total raised since 2018 now stands at $452 million. valuation.
The Philippines is one of the most disaster-prone countries in the world, with geography that makes it vulnerable to typhoons, floods, volcanos, earthquakes and droughts. The reports were meant to help businesses respond more quickly to natural disasters. Its new investment will be used to build a scalable platform.
We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. and Philippines. According to the company, R500 million ($34 million) has already been invested in the business, while the rest — R1.1 This time, a startup from Africa has joined the party.
The Philippines’ e-commerce market now has a gross merchandise volume of $12 billion , a 132% increase from 2020, and is expected to reach $26 billion in GMV by 2025. The startup, a Y Combinator and Iterative alum, announced today it has raised $2.2 million in seed funding. Shipmates founders David Marquez and Josh Supan.
Sari-saris are small neighborhood stores in the Philippines that are often run on pen and paper ledgers. Before raising, Packworks bootstrapped its way to working with 150,000 sari-sari stores, the company says. The Pack SuperStore app enables sari-sari owners to process their business’ inventory, bookkeeping and data collection.
E-wallets are rapidly gaining popularity in the Philippines, overtaking credit cards, which have a penetration rate of under 10%. Its last funding was $750,000 pre-seed round raised last year from investors including Techstars, Emergent Ventures and the 500 Startups Vietnam Fund. Plentina co-founders Kevin Gabayan and Earl Valencia.
Manila-based Humble Sustainability is a circular economy startup that wants to keep it out of the Philippines’ landfills. We simply had a love for the earth and spotted an opportunity to apply our little experience of building businesses towards it.”. All of the investors in Humble’s seed round are actively involved in the business.
Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 The fintech plans to use the funding to double down on its operations in Kenya, and the Philippines, before exploring new markets in West Africa, Latin America, and Asia.
GrowSari , a Manila-based platform for digitizing small businesses in the Philippines, announced today it has added $77.5 Co-founder and CEO Reymund Rollan told TechCrunch that GrowSari raised again because it wants to expand its fintech offerings for store owners and build its supplier marketplace, including commodities.
Jakarta-based fintech Akulaku has raised $200 million from Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan. Earlier this year, Akulaku raised $100 million in funding from Siam Commercial Bank as part of another strategic investment. Founded in 2016, its target is to serve 50 million users by 2025.
A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . We are taking the best practices along with key learnings to our next market launch.” .
Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. and expand its product in APAC, including the Philippines, Indonesia, Malaysia, Australia and Japan. Railsbank raises $10M Series A for its open banking and compliance platform.
There has been a flurry of investments in startups focused on acquiring third-party sellers on Amazon and helping them build their businesses. The New York City-based startup has raised $160 million in debt and equity in a Series A round that it says will fund its “aggressive growth plans.”
Indonesia’s Xendit , a startup focused on building digital payments infrastructure for the region, has just raised $64.6 The funding brings the total amount raised by the Jakarta-based company to $88 million since its 2015. Xendit works with businesses of all sizes, processing more than 65 million transactions with $6.5
Zeals , a Tokyo-based startup that lets businesses communicate with their customers via its chat application, said Thursday it has secured $27.2 The latest round brings its total funding raised to $41.4 The coronavirus pandemic has fueled messaging apps to be the medium for personal, business or commerce to interact with each other.
Launched in the Philippines, social commerce startup Resellee wants to recreate the success of Pinduoduo, one of China’s fastest-growing e-commerce companies, in Southeast Asia. Social commerce is well-positioned to take off in the Philippines for several reasons, he added.
It would appear that OpenAI’s Chat GPT allying with Bing will not be the only threat to Google’s search business model in the future. With its release of WhatsApp Business app (WAB), Meta is effectively building a sort of rival search engine to Google to keep us all inside the app. While this may not trouble U.S. per month).
The company’s Series B, which brings its total raised since 2017 to $41 million AUD, will be used to expand in Southeast Asia and double its total team by hiring 100 new people, including 50 software developers. ” co-founder and co-chief executive officer William On told TechCrunch.
Khairy told TechCrunch that since the startup’s launch, growth has been exponential and they have so far served over 7,000 businesses reaching 20 million customers. Khairy, Assy and Alfar, started building Gameball as a Shopify app, before moving on to build an API solution for businesses outside Shopify. Gameball raises $3.5M
This morning Wunderite , a Boston-based software startup, announced that it has raised $3 million in an early-stage round led by Spark Capital. MacDonald previously worked for his family’s insurance business, while Schnare earned insurance experience by working for a large player in the market.
Jakarta-based Xendit , best known for its digital payment infrastructure but also focused on other financial products, announced today it has raised $150 million in Series C funding, bumping its valuation to $1 billion. Indonesian payments infra startup Xendit raises $64.6M in Accel-led Series B.
Jenfi , a “growth-capital-as-a-service” platform, can provide online businesses with revenue-based financing in a little as a day. The Singapore-based startup announced today it has raised $6.6 This lets Jenfi continuously monitor its borrowers’ business activity, including revenue growth and marketing return on investment.
Xendit , a payments infrastructure platform for Southeast Asia, has raised $300 million in fresh funding. The new round brings its total raised to $538 million and was led by Coatue and Insight Partners, with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo and Goat Capital. billion to $15 billion.
Lalamove will extend its network to cover more small Chinese cities after raising $515 million in Series E funding, the on-demand logistics company announced on its site. According to Crunchbase data , this brings Lalamove’s total raised so far to about $976.5 All three are returning investors. million monthly active users.
The company just raised a $6 million Series A round, led by Gobi Partners, Pacific Century Group and Complex China, to strengthen its foothold in the U.S. Other competitors have a C2B2C business model and mainly work with individual sellers with unverified supply sources,” Yip told TechCrunch. valuation in Series F raise.
Small businesses are the backbone of Southeast Asia’s economy, but many struggle to secure working capital loans because they don’t have traditional credit records or collateral, say the founders of Funding Societies. TechCrunch first covered Funding Societies when it raised its Series A in 2016. million loan transactions.
MadEats , Y Combinator alum, claims to be the first “‘full-stack’ delivery-only startup in the Philippines,” with their own virtual storefront, ghost kitchens and fleet of drivers. The company announced today it has raised $1.7 Dine-in concepts were heavily affected and we saw the need for our business.”.
Enter BreederDAO , a months-old, Philippines-based “specialist manufacturer” of digital assets for use in blockchain-based games and virtual worlds, including “Axie Infinity.” BreederDAO had previously raised an undisclosed amount of seed funding, too. Now, another building block is apparently needed.
Singapore-headquartered esports startup Ampverse has raised $12 million in Series A funding led by Falcon Capital. The company says this is the largest Series A raised by an esports organization in Southeast Asia, based on data from PitchBook and other third-party platforms.
" She invited me to contribute one sentence for a social media fundraising project she's leading to support female entrepreneurs in the Philippines. She is hoping to raise $10,000 for a group of female entrepreneurs in the Philippines. Some of the contributors so far: Anita Pahor , Women???s
Locad , a startup that wants to help with what it describes as an “end-to-end solution” for cross-border e-commerce companies, announced today it has raised a $4.9 Its clients range from startups to international brands, and include Mango, Vans, Payless Shoes, Toshiba and Landmark, a department store chain in the Philippines.
Businesses, and the tech platforms that support their operations, had to adapt quickly to the pandemic. The Sydney, Australia-based company announced today it has raised a $45 million AUD (about $34.8 Employment Hero is designed for small-to-medium sized businesses, and combines human resources, payroll and benefits features.
The startup, which launched its app in Vietnam last year, announced today it has raised $1 million, led by the Estonian Business Angels Network (EstBAN). GajiGesa, a fintech startup serving underbanked Indonesian workers, raises $2.5 million seed round.
The Philippines has had cell phone banking for years. It's a great idea, and raises the floor for the poor by giving basic banking services to people the banks have never cared about (until now, when the innovation starts biting at their businesses from the bottom!). Don't bark at us. The common thread is prepaid cell service.
Founded in 2014, the company operates its business across Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. Singapore’s logistics tech startup Parcel Perform raises $20 million. Ninja Van raises $30M to build a regional logistics network in Southeast Asia.
Panasonic, the consumer electronics giant that also develops solar panels, air conditioning units and many other products for its sizable buildings and construction business , is taking an investment in Aldagram. Another company, Procore, went public in 2021 after raising $75 million at a $3 billion valuation in 2018.
Homebase , a Ho Chi Minh City-based proptech startup that helps people buy homes, announced today it has raised $30 million in equity and debt (the ratio was undisclosed). It is also exploring other Southeast Asian countries like Thailand and the Philippines.
Upmesh was launched nine months ago by Wong Zi Yang, Soh Jan, Nhat Vu and Shawn Teow, and is now used by almost 300 live commerce merchants in Singapore, Malaysia and the Philippines. Whatnot raises another $150M for its livestream shopping platform, evolves into a unicorn. It’s actually replacing advertising for small business.”.
Oasys, a Japan- and Singapore-based startup that’s building a blockchain for gaming developers, has just raised $20 million. It will also be spending the money on marketing, business development and hiring. The company has roughly 20 staff across Singapore, Japan, South Korea and the U.S.
For more about Brankas’ start, see TechCrunch’s 2019 profile of the company , the same year it raised its Series A. As a result of increasing adoption, he said that “large multinational financial service providers like Visa are embracing open finance, even if it may threaten their legacy business in the short term.”.
Called SoBanHang (or “sales book”), it would help businesses that usually rely on paper ledgers digitize their operations, similar to Khatabook in India and BukuKas and BukuWarung in Indonesia. The businesses SoBanHang had been working with, which are often family owned and have less than five employees, struggled to cope.
HitPay has almost everything SMEs need to run their businesses. The Y Combinator alum announced today that it has raised $15.75 The Y Combinator alum announced today that it has raised $15.75 That entails all our plugins, point of sale software, business software, online stores and recurring payments.
Glints , one of Southeast Asia’s largest talent development and recruitment platforms, announced today it has raised $50 million in an oversubscribed Series D. This brings Glints’ total raised so far to $80 million. The round was co-led by DCM Ventures, Lavender Hill Capital and returning investor PERSOL Holdings.
Founded in 2019 by brothers Paul Ndichu and Eddie Ndichu , Wapi Pay provides a payments gateway for African businesses to receive and send money from Asia via mobile money platforms and bank accounts. Most of the focus on remittance has been the flow of money into Africa for sustenance.
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