Philippines

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).

GCash, a finance super app based in the Philippines, has partnered global payment firm PayPal to launch stablecoin in the Philippines. PayPal’s stablecoin PayPal USD (PYUSD) is now available in the Philippine market through GCash.

Mober, a green logistics services provider in the Philippines, has officially launched sustainable delivery services in Cebu to support the regional expansion of Swedish home furnishing retail giant IKEA Philippines.

UnaCash, an in-app and in-store financing solutions provider based in the Philippines, expects the Philippines’ buy now, pay later (BNPL) market to contribute 6.7 percent in gross merchandise value (GMV) to the digital economy this 2024.

Hive Health, a digital health insurance company based in Singapore, has raised $6.5 million in Pre-Series A funding to transform healthcare access for more small and medium-sized enterprises (SMEs) in the Philippines.

United States data center firm Equinix has announced its planned entry into the Philippines with the acquisition of three data centers from Total Information Management (TIM), a technology solutions provider based in the Philippines.

The International Finance Corporation (IFC), a member of the World Bank Group, is investing up to PHP 14.5 billion ($250 million) in the form of a sustainability-linked loan (SLL) for developer Ayala Land Inc. (ALI) to boost green buildings in the Philippines.

The Department of Science and Technology - Advanced Science and Technology Institute (DOST-ASTI), THE BLOKCLABS, INC. (The BLOKC) and Superteam Philippines are set to formalize a groundbreaking partnership to propel blockchain technology and Web3 initiatives in the Philippines.