Philippines

In this third part, we explore how much Covid-accelerated digitization boosted the country’s ‘Iron Triangle’ – e-commerce, logistics, and fintech – startups, and how the startup Davids are battling the Goliath super apps to carve out their own niches.

PayMongo has secured $31 million in Series B funding to scale its operations. Participating in the round are Justin Mateen’s JAM Fund, Philippine VC firms ICCP-SBI Venture Partners and Lisa Gokongwei’s Kaya Founders, together with existing investors Global Founders Capital and SOMA Capital. Also joining the round are founders of top European fintech…

Society Pass Incorporated (SoPa) has acquired Pushkart.ph, an online grocery delivery service in Philippines. The move kicks-off SoPa’s expansion into the Philippines market. Leveraging on SoPa’s capital, Pushkart.ph will focus on dramatically increasing on-demand grocery shopping services to more consumers and more retailers initially to Metro Manila and…

Mizuho Bank, one of Japan's largest banking groups, is the latest big backer of Philippine digital bank Tonik, leading its $131 million Series B round of funding.

Etaily, a fast-growing Philippines-based e-commerce-enabler led by former Zalora executives, announced today that it has wrapped up a $4.3 million seed extension round, on top of its initial $1.6 million funding round announced in August 2021.

KKR and GrowSari announced Wednesday the signing of definitive agreements under which KKR will invest $45 million to lead GrowSari’s Series C funding round. KKR’s investment in GrowSari will support the company’s expansion into more regions across the Philippines and strengthen its financial services capabilities,

ErudiFi has secured a debt facility of $15 million from Helicap. This funding round will help support the firm in providing for the needs of students across the Philippines and Indonesia, by offering them affordable tuition installment plans.

Zoomcar has launched Zoomcar Host - the Philippines’ first ever car sharing marketplace, allowing vehicle owners to generate income by sharing their car on the Zoomcar platform. With Zoomcar Host, Filipinos can rent out their vehicles from a six-hour to six-month periods and generate additional income when not in use.

AcadArena has recently secured $3.5 million in funding led by token fund 1KX, Korean blockchain venture capital firm Hashed, and others. Over 50 investors from prominent businesses across the world participated in the seed round, whose funds are meant to hire more manpower, acquire more play-to-earn assets, product development, strategic partnerships, and…

Tonik, the Philippines' first digital-only neobank, has surpassed PHP5B ($100M) in consumer deposits, just eight months after its launch of commercial operations.