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Philippines shutters its online gambling industry amid tax evasion, human trafficking concerns

TechSpot

POGOs, short for Philippine Offshore Gaming Operators, are companies licensed by the government to run online gambling sites for overseas players, especially in mainland China where such activities are illegal. While the POGO business has generated billions in tax revenue, it's also been a hotbed of illicit activity.

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PayMaya owner Voyager Innovation raises $167M from KKR, Tencent and IFC, to launch digital bank in the Philippines

TechCrunch

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. The fintech endgame: New supercompanies combine the best of software and financials.

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South African digital bank TymeBank lands $109M from UK and Philippines investors

TechCrunch

and Philippines. The investors for this unnamed round include Apis Growth Fund II, a private equity fund managed by Apis Partners, and Gokongwei-owned JG Summit Holdings, one of the largest conglomerates in the Philippines. This time, a startup from Africa has joined the party. The company made this known via a statement.

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PayMaya owner Voyager Innovations raises $210M at a valuation of $1.4B

TechCrunch

Voyager Innovations , the owner of Philippines’ payment and financial services app PayMaya and neobank Maya Bank, announced today it has raised $210 million, bringing its valuation to $1.4 PayMaya owner Voyager Innovation raises $167M from KKR, Tencent and IFC, to launch digital bank in the Philippines.

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Checkout.com raises $450 million and reaches $15 billion valuation

TechCrunch

And the company is working on adding India and the Philippines. And it turns out you need cash on your balance sheet in the Philippines if you want to get a license from the local regulator — it doesn’t matter if you have a ton of money sitting in your bank account in London. Checkout.com is regulated in the U.K.,

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Maritime recruitment platform Seafair gets $5.7M led by General Catalyst

TechCrunch

Shipping companies are based around the world, but about 50% of seafarers come from Eastern Europe and the Philippines, so they typically rely on agencies to staff vessels. Since agencies rely on hiring commissions to make money, however, they might not always provide the best fits for openings, Diakogiannis said.

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Financial comparison “super app” Jeff raises $1.5M seed extension

TechCrunch

Founded in 2019, the startup is operational in Vietnam and has applied for a license to launch in Indonesia. It also plans to enter the Philippines in the third quarter. Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia.