Funding
UnionBank Invests PHP300M More in Digital Bank to Fuel Growth
Union Bank of the Philippines has invested an additional PHP 300 million into the UnionDigital Bank following the PHP 900 million funding in July this year, according to PhilStar Global. The bank had disclosed to the Philippine Stock Exchange of
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Cross-Border Payments Startup Parallax Raises US$4.5M Seed Round
Cross border payments company Parallax announced that it has raised US$4.5 million in a seed funding round led by Dragonfly Capital. Founded by Mika Reyes and Alex Kuang, Parallax provides near instant international payments. The firm is focused on providing
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Top 8 Most Well-Funded Fintech Startups in the Philippines as of H2 2023
The fintech sector in the Philippines has experienced significant growth in recent years, fueled by increasing adoption of digital technology and a push for improved financial inclusion. With a population of over 110 million, a rising middle class and a
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Filipino Fintech Salmon Raises US$20 Million Debt Facility
Filipino fintech Salmon announced that it has raised a US$ 20 million debt facility from U.S.-based emerging-markets specialist investment firm Argentem Creek Partners. This will enable Salmon to further scale its lending operations across the Philippines. Salmon will expand its
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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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