Philippines

For the first time since its launch, Ideaspace Ventures has made immediate investments in the startups selected, signifying its commitment to their growth and automatically including them in its portfolio.

This funding comes as Surfin serves 60 million lives across eight countries in three continents, with roughly $2.7 billion in cumulative transactions.

Salmon intends to allocate a portion of the proceeds to strengthen the capital base of the Rural Bank of Sta. Rosa (Laguna), with plans to increase the bank's total capital to PHP 1.2 billion by the end of 2025.

The round was co-led by a16z SPEEDRUN and Peak XV’s Surge – with participation from Taiwan’s AppWorks, Antler, Hustle Fund, Founders Launchpad, Orvel Ventures, and founders & creators like Gabby Dizon (YGG), Kun Gao (Crunchyroll), Voyboy, Jankos and Perkz.

The International Finance Corporation (IFC) has invested $7 million into First Circle, a technology company providing smart banking solutions to small and medium-sized enterprises (SMEs) in the 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.