Philippines

Clime Capital, the Singapore-based fund manager dedicated to driving the shift towards a low-carbon economy, has on Monday announced an investment through the South East Clean Energy Fund II (SEACEF II) in Upgrade Energy Philippines (UGEP), a key player in the Philippine solar project landscape.

With the completion of the first building’s structural framework, the Data Center is slated to begin operations in the fourth quarter of 2024 (Q4 2024) with an initial 6MW capacity ready for service.

BillEase, a digital consumer finance platform based in the Philippines, has on Tuesday announced TPG's The Rise Fund has signed definitive documentation to lead a significant strategic investment in the company.

The adoption rate of financial technology in the Philippines through mobile apps among the population aged 15 years old and above may increase to 79.5 percent or approximately 66.4 million unique users by the end of 2024, new analysis from consumer credit service Digido revealed on last Thursday.

The Strategic and Collaborative Alliance for Leveraging Ecosystems of Startups - National Capital Region (SCALE NCR), a consortium established by the Department of Science and Technology (DOST) of the Philippines, has launched key initiatives to drive innovation and accelerate startup growth in Metro Manila.

The Philippines-based cryptocurrency exchange platform PDAX has announced a strategic partnership with online educational finance platform Investagrams to make cryptocurrency trading more accessible to the public.

Philippine Central Bank Bangko Sentral ng Pilipinas (BSP) has approved the lifting of the moratorium on the grant of new digital banking licenses starting January 1, 2025 and allowed a maximum of ten digital banks to operate in the country.

Procter & Gamble (P&G) Philippines has forged a strategic partnership with QBO Innovation to launch the first-ever vGrow SHOWQASE in the Philippines aimed at harnessing the untapped potential of the Philippine startup ecosystem and finding innovative partners who share P&G’s vision for sustainable growth and serving Filipino consumers.

The International Finance Corporation (IFC) will allocate PHP 308 million ($5.31 million) to support green transition in the Philippines with the European Union (EU).

The Philippines-based conglomerate Ayala Corporation has acquired additional 8 percent stake in Globe Fintech Innovations, Inc. (Mynt), the parent company of the finance super app and digital cashless ecosystem GCash in the Philippines, for PHP 22.9 billion ($394.54 million).