Philippines

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

TechNode Global’s series on the Philippines will delve into why now, after years of depending on income from remittances, Filipino entrepreneurs and founders are attracting venture capital (VC) money in droves. In this first part, we briefly explain the key growth drivers and opportunities awaiting VCs in the country, while laying the groundwork for future…

Our investment strategy revolves around today’s new customer, who might be the digital consumer or the digital company. They might be digital natives, or they could be newly digital. In any case, technology plays a bigger, more important, more fundamental role in their daily lives today.

The Monetary Board decided to close the window for the submission of applications from new digital banks, including converting banks, starting August​ 31, 2021. This is in line with the overall thrust of maintaining a stable and competitive environment for banks.

The company aims to address the Philippines’ Internet infrastructure bottleneck problem through its tech. It plans to provide ISPs, enterprises, and government agencies with a cheaper alternative to traditional fiber optic cables without compromising on internet quality and reliability.

SquidPay closed Php 100 Million in Series A and Php 100 Million ($2.08 million each) line of credit arranged by Eastern Securities Development Corporation (ESDC)

Here’s what Ant Group (formerly Ant Financial) has done so far.

Netflix battle means better localization needed, it says.

Financial services app continues Southeast Asia growth.