Funding
UnionBank Injects PHP 900 Million Capital into UnionDigital Bank
UnionDigital Bank (UD), the digital banking subsidiary of Union Bank of the Philippines, has secured PHP 900 million (US$ 16.2 million) from its parent bank. The capital infusion is still subject to Bangko Sentral ng Pilipinas’ (BSP) regulatory approval. The
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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
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UNO Digital Bank Partners with 1Sari to Empower Sari-Sari Stores
Philippines UNO Digital Bank has partnered with 1Sari Financing Corporation to support the growth of sari-sari store owners and micro-enterprises that play a crucial role in the country’s economy. These store owners face challenges in expanding due to a lack
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Netbank Closes Series A Funding Round Led by Beenext
Netbank, a Philippines-based neobank that offers Banking-as-a-Service solutions, announced that it has closed its Series A funding round. The investment sum was not disclosed. The round was led by regional venture capital firm Beenext with participation from Kaya Founders and
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Philippine Startup Investment Reaches New High; Fintech Takes Lion’s Share in Early-Stage Funding
In 2022, startup investment reached new heights in the Philippines, defying trends observed around the world and the global funding downturn. Fintech companies took the lion’s share in early-stage private funding, securing 39% of all investments raised in 2021-2022, a
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Earned Wage Access Firm Advance Raises US$16M to Push Vietnam Expansion
Filipino earned wage access startup Advance announced that it has raised US$16 million in a Pre-Series A funding and expanded its operations to Vietnam through the acquisition of BravoHr, a platform that provides digital solutions for employee engagement, benefits, and
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8 Fintech Investors in the Philippines You Have to Know
Booming digitalization and increased government support have fueled the growth of the Philippines’ fintech sector. In recent years, the country has witnessed an increase in the number of fintech startups and recorded strong growth in fintech funding activity. In 2021,
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Gobi-Core Now a Co-investment Partner for the Philippines Govt’s US$10M Fund
The Gobi-Core Philippine Fund is now a Co-Investment Partner (CIP) of the Philippine government’s Startup Venture Fund (SVF), one of the first since the fund’s inception in 2021. Through this partnership, Gobi-Core will be able to co-invest with the SVF
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RCBC Receives US$460M Strategic Investment From SMBC
Sumitomo Mitsui Banking Corporation (SMBC) has increased its stake in Rizal Commercial Banking Corporation (RCBC) from 4.999% to 20.0%, providing an injection of PhP 27.126 billion (approximately US$ 460.78 million) in capital. SMBC’s strategic investment is said to be part
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BNPL Platform BillEase Raises US$20M Debt Facility from Singapore’s Helicap Securities
Consumer finance app BillEase has closed an up to US$20 million debt facility arranged by Singapore-based Helicap Securities, bringing the total raised by the lending platform to US$55 million in debt and equity. The company previously raised US$11 million in
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