Funding

Pilon Raises Funds From Kaya Founders to Accelerate Filipino Expansion Plans

Pilon, a Singapore-headquartered fintech firm that offers cloud-based supply chain financing system, has secured a top-up round from Filipino venture firm Kaya Founders. The sum was not disclosed.

The fintech had previously raised US$5.2 million in both debt and equity during a seed funding round led by Wavemaker Partners with participation from Octava and Polaris Kin.

The additional funding will be used to accelerate Pilon’s growth plans and strengthen its presence in the Philippines market.

Eddie Lee

Eddie Lee, Co-founder and CEO of Pilon stated,

“This investment is an important milestone for Pilon because it not only strengthens our financial position but also validates our vision to provide disruptive solutions to local businesses in the Philippines.

The additional funding will also be used to improve Pilon’s digital product offerings, expand its presence in existing markets like the Philippines and Cambodia, and explore new markets like Vietnam, Thailand, and Indonesia in the coming year.”

Lisa Gokongwei-Cheng

Lisa Gokongwei-Cheng, Partner of Kaya Founders said,

“Pilon’s innovative solutions possess the power to revolutionise the way individuals and businesses engage in transactions, offering flawless and safeguarded payment experiences. We hold strong confidence in Pilon’s forward-thinking leadership and their capacity to bring about substantial transformations in the industry.

With the infusion of this extra funding, they are aptly poised to expedite their growth and broaden their reach, resulting in enhanced convenience and efficacy for both consumers and businesses.”

Featured image: (Left to right) Alex Chua, Co-Founder, Pilon and Eddie Lee, Co-Founder and CEO, Pilon