Filipino MSME Bookkeeping App Lista Raises Over US$5.1 Millionby Fintech News Philippines June 23, 2022
Lista, a bookkeeping app for MSMEs based in the Philippines, has raised over US$ 5.1 million in a recent funding round led by Singaporean VC firm Openspace Ventures.
Existing investors East Ventures, Saison Capital, and 1982 Ventures had also participated in the round.
New investors include Stephen CuUnjieng (Former Chairman and CEO of Evercore Asia), Aurelien Pichon (Google), Roland Ros (Kumu’s CEO), Rexy Dorado (Kumu’s President), and more.
The round was also joined by its previous angel investors including Brian Cu (ex-President of Grab Philippines), Willy Arifin (Monde Nissin Family Ventures), Amrish Rau (Pinelabs’ CEO), Kunal Shah (CRED’s founder), Jitendra Gupta (Jupiter Bank’s CEO), among others.
With these funds, Lista is planning to further expand beyond business management tools and develop products specific to personal finances.
Lista said in a statement that it is seeking to triple in size and broaden its product offerings to better suit the customers’ needs.
Launched in September 2021, Lista’s app now has over 1,000,000 downloads. The app allows both merchants and individuals to conveniently track the flow of money in and out, and see their profits and savings in real-time.
Additionally, they can record debts and use Lista to help collect receivables with its built-in SMS notification feature that automatically reminds borrowers of due dates.
Aaron Villegas, Co-founder of Lista said,
“We are grateful for the trust these investors have given, not just in us, but in the vast potential of the rapidly developing fintech industry in the Philippines.
We continue to grow organically at a very accelerated pace, but we also seek out opportunities beyond what we are doing. We have a very aggressive pipeline.
Khriz Lim, Co-founder of Lista said,
“The additional funding will also be used to fill additional key roles including product and engineering especially as the startup is looking into launching new verticals this year.
That includes going beyond financial management and introducing more financial services, including payments and credit. Ultimately, Lista will provide much-needed financial services to the Philippines’s underserved citizens.