Funding

Y-Combinator Alumnus NextPay Secures US$1.6 Million in Seed Funding

NextPay, a digital platform that offers entrepreneurs banking solutions, has raised US$1.6 million (over P80 million) in seed funding. Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund led the oversubscribed seed financing round. Other foreign investors that participated in

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PayMaya Raises $167m from PLDT, Tencent and IFC; Eyes Digital Banking License

Philippines digital and financial services firm Voyager Innovations announced that it raised US$167 million through its financial technology arm, PayMaya Philippines. This investment includes US$121 million in fresh funding and US$46 million from previously committed funds. Participating in the funding

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Neobank Tonik Bags US$17 Million in Pre-Series B Funding Round Backed by Sequoia

Philippines neobank Tonik announced that it has raised US$17 million in a Pre-Series B funding round. The round comes on the heels of Tonik’s public launch in March 2021, which saw it secure over US$20 million (1 billion pesos) in

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Uploan Secures US$ 15 Million in Debt Facility From UK’s Lendable

Uploan, a Philippines-based provider of salary linked financial services, has raised a senior secured loan of up to US$ 15 million from Lendable, a UK-based provider of debt to fintech companies in emerging and frontier markets. The long-term facility will

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Education Financing Startup ErudiFi Raises US$5 Million in Series A Funding Round

ErudiFi, a tech-enabled company providing access to affordable education financing in Southeast Asia, announced the close of a US$5 million Series A funding round co-led by Monk’s Hill Ventures and Qualgro. The company plans to scale ErudiFi’s education financing services

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GCash Inches Closer to Unicorn Status With $175 Million Capital Raise

Globe Fintech Innovations, Inc. (Mynt), the fintech arm of Globe Telecom and operator of e-wallet GCash, raised over $175 million in fresh capital and inches closer towards achieving unicorn status with a post-valuation close to the $1 billion mark. The

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8 Top Funded Fintech Startups in the Philippines 2020

The Philippines is home to a striving fintech industry comprising more than 190 ventures operating in lending, payments, credit scoring, and more and the top funded fintech startups in the Philippines gives us a sense of what investors and startups

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Meet the 5 Startups Selected for ING and UNICEF’s Fintech for Impact Initiative

ING Bank and UN children’s agency UNICEF have launched an initiative in the Philippines called ‘Fintech for Impact’ to support startups developing digital solutions that aim to empower young people, children and families. Five fintech startups will receive equity-free investments,

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PayMongo Secures $12M in Series A Funding Round Led by Stripe

PayMongo, a Filipino-owned online payment platform, recently secured $12 million in a Series A financing round led by Stripe. The funding round comprised of other existing investors — Y Combinator, Global Founders Capital and a new investor, Bedrock Capital. The

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Stripe and PayPal’s Co Founder Backs PH-Based PayMongo’s US$2.3 Million Seed Round

Philippines’ fintech startup PayMongo recently announced that it has raised US$ 2.3 Million in its seed round. PayMongo’s investments round sees participation from an impressive list of investors including Stripe, PayPal’s co-founder Peter Thiel, Tinder’s co-founder Justin Mateen, Y Combinator,

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