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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.
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.
and Philippines. According to the company, R500 million ($34 million) has already been invested in the business, while the rest — R1.1 Growth in this particular segment of financial services is only possible with investments from partners who understand and support the growth trajectory of digital banks,” he said.
Sari-saris are small neighborhood stores in the Philippines that are often run on pen and paper ledgers. It also plans to build a department that engages sari-sari stores and provides additional services with parters, plus build an open platform for financial institutions and brands to connect directly with sari-sari owners.”.
E-wallets are rapidly gaining popularity in the Philippines, overtaking credit cards, which have a penetration rate of under 10%. Plentina launched in the Philippines in October 2020 and has been downloaded more than 30,000 times. Loans have a flat 5% service fee, with no interest. The company announced today it has closed a $2.2
GrowSari , a Manila-based platform for digitizing small businesses in the Philippines, announced today it has added $77.5 Founded in 2016, GrowSari’s tools for small businesses now include inventory management, pricing tools, a logistics network and working capital loans. million to its Series C round.
Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. This will include the launch of “credit cards as a service” in the U.S. and expand its product in APAC, including the Philippines, Indonesia, Malaysia, Australia and Japan.
DesignCrowd , the Australia-headquartered crowdsourcing service for designers, has big plans: it wants to grow its business from $10 million to $100 million as quickly as possible – and its first step is to conquer the US. With this goal in mind, it is taking on 99Designs — which has been based in San Francisco since 2010.
Tala , an emerging markets digital lender that offers loans between $10 to $500 to consumers and small business owners, has raised $145 million in Series E funding. To add to that, over 2 billion of these people have limited access to financial services and working capital per World Bank statistics.
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.
Jenfi , a “growth-capital-as-a-service” platform, can provide online businesses with revenue-based financing in a little as a day. The new funding will be used to grow its customer base in Singapore, Vietnam and Indonesia, and expand into new markets in Southeast Asia, like Malaysia, the Philippines and Thailand.
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).
At the end of last year, Xendit expanded into the Philippines, and says it is now one of the biggest payment players in the country. The company also plans to launch value-added services. Xendit’s solutions let businesses accept payments from many of these methods through three integration options. in Accel-led Series B. “Our
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.” .
Entrepreneurs and small and medium enterprises (SMEs) often struggle to deal with several siloed functions, such as company secretary, bookkeeping, banking, tax, payroll, employment services, insurance and more. and the Philippines. Corporate services “superapp” Osome lands $16M Series A. based SMEs.
The company, which bills itself as “the Stripe of Southeast Asia,” also plans to add value-added services in addition to payments, like working capital loans. Xendit now has over 3,000 customers, including Samsung Indonesia, GrabPay, Ninja Van Philippines, Qoala, Unicef Indonesia, Cashalo and Shopback.
Research Alliance members participate in the production of cutting-edge association industry research including Looking Forward TM , the nation’s longest-running and most comprehensive environmental scanning research of the association business environment – and the first association sector scan taking the pandemic into account.
we get to hear the story of a cell phone banking service that gives the poor effective banking services in Kenya when the country's banks have declined to serve them. The Philippines has had cell phone banking for years. The common thread is prepaid cell service. In M-Pesa is our hippo!
" 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
Xendit works with businesses of all sizes, processing more than 65 million transactions with $6.5 Its website promises businesses that “with a single integration,” they can accept payments in Indonesia and the Philippines. So the first few months of the year, the startup’s business was hit hard.
Brankas’ platform offers a roster of more than 10 “banking-as-a-service” embedded APIs, including ones for opening online bank accounts, credit scoring, identity verification, e-commerce transactions and gig economy payments. Founded in 2016, Brankas goal is to “democratize access to financial and identity data.”
Founded in 2013 for on-demand deliveries within the same city, Lalamove has since grown its business to include freight services, enterprise logistics, moving and vehicle rental. The company entered the United States for the first time in October, and currently claims about 480,000 monthly active drivers and 7.2
Zeals , a Tokyo-based startup that lets businesses communicate with their customers via its chat application, said Thursday it has secured $27.2 The coronavirus pandemic has fueled messaging apps to be the medium for personal, business or commerce to interact with each other. million (3.5 billion yen) in equity and $11.6 million (1.5
The startup’s goal is to close the gap between first-mile and last-mile delivery services, enabling e-commerce companies to offer lower shipping rates and faster deliveries while freeing up more time for other parts of their operations, such as marketing and sales conversions. It now also has offices in Australia, Hong Kong and India.
The proliferation of delivery services give customers many options, but means chaos for busy restaurants that need to manage orders across multiple apps and channels. Klikit wants to save Southeast Asian food businesses from “ tablet hell ” by aggregating order information from all apps into one platform.
Upmesh announced today it has closed a seed round of $3 million, led by Leo Capital, with participation from Beenext, iSeed, Goto Financial head of merchant financial services Jonathan Barki, BukuWarung founders Abhinay Peddisetty and Chinmay Chauhan, and Zopim founders Royston Tay and Kwok Yangbin.
Based in Singapore, the company has evolved from a ride-hailing app to a Southeast Asian super app that offers several consumer services, including food delivery, financial services, such as an e-wallet so that you can send and receive money. This is even more critical as our region recovers from COVID-19.
HitPay has almost everything SMEs need to run their businesses. It is currently used by over 10,000 merchants in Singapore and Malaysia, with plans to expand into more Southeast Asian markets, including Thailand, Indonesia and the Philippines. The Y Combinator alum announced today that it has raised $15.75
Being “underbanked” doesn’t mean that someone lacks access to financial services. Finantier , a Singapore-based open finance startup, wants to streamline that data with a single API that gives financial services access to user data, with their consent. Building Southeast Asia’s financial infrastructure.
Eric Velasquez Frenkiel had a seemingly simple thought when visiting his family in the Philippines, impressed by the cashless economy that had formed. It’s important not to confuse this Pomelo with another Pomelo, a fintech-as-a-service platform for Latin America that has raised $9 million in funding. ) Oh, fintech.
Ascend Money , the Thailand-based fintech startup behind TrueMoney, an e-wallet service, announced today it has raised a $150 million Series C round at a valuation of $1.5 The e-wallet service also serves as a payment channel for B2B, ranging from big brands to local SME owners as well as street market entrepreneurs.
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.
As such, corporate marketers deal with the challenge of: I’ve got a mature business that already has significant market penetration. How do I eke out another few percent and keep the business growing? Startups intend to grow at 20 percent month over month (or more), while corporations are satisfied with 5 percent year over year.
Pylon currently operates in Egypt and the Philippines. Ashour worked in the metering and utility business for more than a decade and led the implementation of smart metering technologies — particularly hardware– across Africa, Europe, Asia and the Middle East for various companies. government.
Last month, for example, her team co-led an investment in Virtually Human Studio , the startup behind a digital horse racing service Zed Run, wherein users buy, sell and breed virtual horses whose value rises depending on their performance against other virtual horses. How did you first come across this digital horse racing business?
Around this time, the two met Mishra, who was head of business for Indian delivery startup Dunzo, and started talking about how to solve the onboarding problem at scale. It plans to do the same for other crypto services like payments. It focuses on retail investors, enabling them to start with investments as small as $5.
In October, Upmesh was used by almost 300 live commerce merchants in Singapore, Malaysia and the Philippines, with an annualized gross merchandise value of $40 million. . While Upmesh provides a full technology and service stack to enable live commerce, it is even more critical to enabling small and medium sellers at scale.
My first post in this series described how businesses should start when considering expansion into Asia, which is home to some of the largest and fastest growing markets in the world. A company cannot hire out of a hub city like Singapore and expect those individuals to cover Indonesia, India, Thailand, and the Philippines.
For many, this makes it is difficult to secure loans and other services because they don’t have traditional financial records like a credit score. Jeff ’s loan brokerage platform was created to make it easier for financial service providers to integrate alternative data scoring, allowing them reach more potential borrowers.
For SOSV-backed Achiko , this meant shifting its focus from mobile payment services to affordable COVID-19 screening. Chief executive officer Steven Goh told TechCrunch that the company was in the process of expanding into buy now, pay later services in 2020 when COVID-19 disrupted international travel. ”
The Kenyan fintech Kwara was launched in 2019 to help credit unions (savings and credit cooperatives societies, SACCOs) in the East African country shift to digital platforms by providing them with its proprietary Back-end-as-a-service (BaaS) software. Kwara is building a neobank for credit unions.
More than three-fourths of Southeast Asia’s population is unbanked or underbanked , meaning that don’t have a bank account or access to traditional lending services. Brick works closely with Bank Indonesia and Indonesia’s Financial Services Authority and is participating in Bank Rakyat Indonesia’s Sembrani Wira accelerator program.
In late June, Modsy , on online interior design services startup, abruptly ceased offering design services , laid off its designers, and left customers with unfinished renovations and project orders in process. The company returned some service order charges and promised to refund furniture deliveries to those who completed a form.
Embedded means insurance or protection products that are embedded into the customer experience as they buy a product or sign up for a service. For example, it enables JKOPay in Taiwan and Maya in the Philippines to offer insurance marketplaces through their apps. Device protection isn’t the only product bolttech offers.
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