Funding
Nearly a Quarter of All VC Funding in the Philippines Goes to Fintech
In 2023, the Philippines showcased its resilience despite macroeconomic headwinds that challenged the international venture capital (VC) scene. New data released by local VC firm Foxmont Capital Partners and the Boston Consulting Group (BCG) show that VC funding in the
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Singlife Philippines Secures US$10.65 Million Funding to Push Digital Insurance
Singlife Philippines has recently enhanced its financial reserves through a P600 million (approximately funding from its principal backer, Singapore Life Holdings Pte. Ltd. This infusion is intended to bolster the company’s innovation and growth, with a particular emphasis on digital
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Malaysia’s Creador Commits US$71.2 Million Investment to Grow Asialink Expansion
Creador, a private equity firm in Southeast Asia, has made a strategic investment of PHP4 billion (US$ 71.2 million) in Asialink Finance Corp., an online lending firm to the Philippine small and medium enterprise (SME) sector. This investment grants Creador
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ProCredit Secures US$4.1 Million in Funding to Boost Local SME Lending
ProCredit, a fintech enterprise specialising in loans for small and medium-sized enterprises (SMEs), has successfully raised US$4.1 million in a pre-seed funding round. This round was led by Integra Partners and saw contributions from the Menardo Jimenez Family Office, M
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UNO Digital Bank Secures $32.1 Million in Funding to Fuel Expansion
UNOAsia Pte Ltd has secured US$32.1 million in a recent pre-Series B funding round, with the mix of equity and debt funding aimed at reinforcing the operations of UNO Digital Bank in the region, with a particular focus on technology
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IFC Reveals Proposed US$7M Investment in Salmon to Scale Business
The International Finance Corporation (IFC), a member of the World Bank Group, has recently set forth a proposal to invest US$7 million in Fintech Holdings Ltd, which operates three of its subsidiaries under the brand name Salmon in the Philippines.
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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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