Philippines
Philippine parenting e-commerce start-up edamama closes $20M Series A funding
Edamama, the Philippines’ leading parenting-focused e-commerce platform, has secured a $20 million Series A funding round led by Alpha JWC Ventures. The round was also participated by its existing investors including Gentree Fund, Robinsons Retail Holdings Inc. (RRHI), and Kickstart Ventures.
Philippines pauses Virtual Asset Service Provider licenses for three years
The Bangko Sentral ng Pilipinas (BSP), the Philippines Central Bank, said Friday it has approved a modified approach which involved the closure of the regular application window for new VASP licenses for a period of three years and grant of new VASP licenses only to existing BSP supervised financial institutions (BSFIs).
Grab Philippines acquires motorcycle taxi firm MOVE IT
Grab Philippines has announced that it has acquired motorcycle taxi firm MOVE IT’s business operations. Backed by Grab and MOVE IT’s shared commitment towards safe and reliable mobility services for everyday Filipino commuters, Grab Philippines will help MOVE IT further scale its existing motorcycle taxi fleet and improve the efficiency of its platform.
GoTyme Bank gets approval to bring digital banking services to Philippines
GoTyme Bank was awarded its Certificate of Authority (COA) to operate as a digital bank by the Bangko Sentralng Pilipinas (BSP) last Friday. The issuance of a COA is the third and final stage involved in establishing a digital bank in the country.
UNOAsia raises additional $11M pre-Series A led by Creador bringing total capital raised to $44.5M
To date, UNOAsia has secured $44.5 million in investment in its pre-seed, seed, and pre-Series A rounds, which includes drawn-down capital of $34 million.
Philippines Packworks raises $2M seed round led by Fast Group and CVC Capital Partners
Philippines technology startup Packworks said Thursday it has raised $2 million seed round to launch mobile enterprise resource planning (ERP) platform for 150,000+ Sari-Sari store-partners in the Philippines. The seed round is led by leading end-to-end logistics group Fast Group and global private equity firm CVC Capital Partners, with participation from…
PayMongo partners with Atome to expand ‘Buy Now Pay Later’ acceptance across The Philippines
PayMongo, a Manila-based online payment processing platform, announced on Tuesday a partnership with Atome Philippines to expand BNPL acceptance among merchants in the country.
Philippines’ largest EdTech startup Edukasyon.ph secures bridge funding
Edukasyon.ph, the largest EdTech startup in the Philippines, has raised a convertible note with backing from a number of investors, including follow-on investors KSR Ventures and Lorinet Foundation, and new investor Bisk Ventures.
PDS Group launches first fully-digital DLT-based digital bond
The Philippine Dealing System Holdings Corp. (‘PDS Group’) announced on Thursday the launch of a fully digitally native bond, issued on a distributed ledger technology (‘DLT’) network powered by Hashstacs Pte Ltd (‘STACS’), a Singapore-headquartered FinTech firm. The digital bond was issued by the Union Bank of the Philippines (‘UnionBank’) for PHP 11.00…
Malaysia’s home services platform Kaodim to cease operations next month
The prolonged COVID lockdowns and their “knock on” effects in the form of operational disruptions, labor shortages and higher running costs have significantly impacted its business and the quality of service.
