Payments infrastructure startup Xendit has become a Southeast Asian unicorn, securing $150 million Series C funding, after its Philippines launch last year. XENDIT-LOGOArtboard-1@2x Tiger Global Management led the round and existing investors - Accel, Amasia, and Justin Kan’s Goat Capital, also...
Silicon Valley's HyperVerge, one of the world’s largest identity verification firms, has expanded operations in the Philippines, seeing the country as the new growth center in Southeast Asia. Hyperverge_horizontalLogo_Bearddesign "Currently, we are working with three large financial institutions...
Homegrown fintech startup NextPay, raised over P80 million (US$1.6 million) in seed funding from international and local investors to develop more digital financial services for the country's underserved small businesses. Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund led...
Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group...
Financial technology (fintech) companies in the Philippines are poised to overtake brick and mortar banks, debt-watcher Moody’s Investors Service said. In a commentary on Thursday, July 15, Joyce Ong, Moody’s analyst said that fintech has “abundant room” for growth in the country as 70...
Tech firm Voyager Innovations raised US$167 million (P8.15 billion) to establish a digital bank via its financial technology arm, PayMaya Philippines (PayMaya). Existing shareholders PLDT Inc., global investment firm KKR and leading Chinese tech firm Tencent participated in the fund-raising, which...
Filipino-fintech company Ventaja International Corp., the government’s pioneer collection partner for overseas Filipino workers’ contribution and payments to pension funds, has announced a complete overhaul of its platform to expand its services to more Filipinos. “The company is overhauling...
PearlPay, a Filipino fintech company, is hoping that over 10 rural banks and micro financing institutions could go live this year using their world-class digital banking solutions. Spark Perreras, PearlPay co-founder and CEO, said during a media roundtable organized by AWS the need to go digital to...
As part of the efforts to boost the Philippines’ agricultural production, the Philippine government should find a way to be able to tap into financial technology (FinTech) in linking farmers with financial services. “If done well, FinTech could be key to increasing agricultural...
The Authority of the Freeport Area of Bataan (AFAB) is joining the digital bandwagon as it shifting focus on attracting financial technology (fintech) firms engaged in blockchain, distributed ledgers and other fintech solutions firms from emerging digital econoImies to locate operations in the...
Multisectoral groups, comprising of 51 largest and widely-represented private sector associations, have urged for the immediate enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill to boost market confidence, save jobs and provide instant relief to businesses’...
Globe Fintech Innovations, Inc. (Mynt), subsidiary of Globe Telecom and operator of mobile wallet GCash, hauled in close to $1 billion investments to date from a private equity fund. ASP Philippines LP, a limited partnership fund managed by investment firm Bow Wave Capital Management, infused new...
