Tagged: Philippines

September 8, 2021 @ 7:34 am By Omar Faridi  |  

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

August 30, 2021 @ 10:42 pm By Omar Faridi  |  

GCash, a leading mobile wallet provider in the Philippines, reports steady growth as it saw a significant rise in its number of users from 20 million in January 2020 to 46 million in June 2021, according to a release. The GCash app also had more… Read More

August 30, 2021 @ 8:31 pm By Omar Faridi  |  

Philippines-headquartered financial services center PERA HUB has teamed up with Brankas, an Indonesia-based open API tech provider, in order to introduce a digital remittance platform, called PERA HUB Conex. As noted by its management: “PERA HUB is the country’s foremost urgent transaction center for money… Read More

August 23, 2021 @ 10:08 pm By Omar Faridi  |  

Philippines-based Tonik, a virtual banking platform that was recently awarded an operational license by the Bangko Sentral ng Pilipinas (BSP), has introduced a physical debit cards for its customers. Tonik bank clients are now able to order physical debit cards via an easy-to-use app, and… Read More

August 22, 2021 @ 10:29 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, recently confirmed  that it will no longer be accepting applications for new virtual banks including firms seeking to  convert their current status, starting from September 1, 2021. Virtual banking applications sent to the nation’s… Read More

August 22, 2021 @ 8:00 pm By Omar Faridi  |  

Connie Gallippi, Founder and Executive Director at BitGive, a non-profit organization that aims to bridge the gap between practical philanthropic solutions for nonprofit and humanitarian work globally made possible through emerging blockchain technology, recently shared some noteworthy updates with Crowdfund Insider. Established in 2013, BitGive is… Read More

August 22, 2021 @ 4:36 pm By Omar Faridi  |  

The Philippine Digital Asset Exchange (PDAX), a virtual currency exchange that’s licensed by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank, revealed earlier this week that it had secured $12.5 million in capital. PDAX‘s investment round has reportedly been led by an unnamed… Read More

August 19, 2021 @ 8:29 pm By Omar Faridi  |  

The Union Bank of the Philippines (UnionBank) has teamed up with crypto-asset custodian Hex Trust in order to test out its digital asset custody services – which are compliant with the guidelines provided by the Bangko Sentral ng Pilipinas (BSP), the nation’s reserve bank. Through… Read More

August 19, 2021 @ 10:14 am By JD Alois  |  

Yield Guild Games (YGG) has raised $4.6 million in a funding round led by Andreessen Horowitz (a16z). The funding was said to have been finalised prior to the YGG token sale on July 27 and was joined by Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures,… Read More

August 13, 2021 @ 4:09 pm By Omar Faridi  |  

To serve residents in the Philippines that don’t have an established financial history, consumer lending firm SB Finance has teamed up with FinScore to enhance its credit scoring process using alternative data. By leveraging FinScore’s Telco Credit Scoring solution, SB Finance can reliably predict the… Read More

August 8, 2021 @ 9:32 pm By Omar Faridi  |  

Mobile wallet provider GCash has teamed up with Fintech firm Ayannah, a Philippines-based startup that aims to offer affordable and more accessible digital financial services. Through the partnership, the companies will be introducing GCash Padala. GCash Padala, a new remittance service, should enable GCash’s 40… Read More

August 8, 2021 @ 5:27 pm By Omar Faridi  |  

Croatian peer-to-peer lender Robo.cash has shared its performance update for its loan originations made during H1 2021. The Robo.cash team writes in a blog post that as the first half of this year has now passed, they’re pleased to share with you their most recent… Read More

August 4, 2021 @ 9:41 pm By JD Alois  |  

Investree, the Philippines’ first SEC licensed crowdfunding company, is looking to support the country’s underserved MSME sector. “Digital transformation has to form a core part of recovery and future growth. We believe that every business deserves a chance to grow and we try our best… Read More

July 31, 2021 @ 7:44 pm By Omar Faridi  |  

NextPay, a digital platform that provides business owners and entrepreneurs with banking services, has acquired $1.6 million (more than P80 million) in capital via a seed round. As noted by its management: “NextPay is the best alternative to bank accounts for small businesses and entrepreneurs… Read More

July 28, 2021 @ 10:38 pm By Omar Faridi  |  

Paymaya, the mobile money and payments provider based in the Philippines, has selected Iliad Solutions as its payments testing supplier. Iliad Solution’s products and services, which are being used by major financial institutions throughout the world, have been developed to help with minimizing the risk… Read More

July 24, 2021 @ 3:26 pm By Omar Faridi  |  

The Union Bank of the Philippines, which is part of a conglomerate that is led by Aboitiz Equity Ventures, will be launching the fourth all-digital banking platform in the Southeast Asian country. This, according to a Philstar Global report. The UnionBank’s virtual bank application has… Read More

July 18, 2021 @ 9:58 am By Omar Faridi  |  

Philippines-based Netbank has now partnered with several alternative lenders so that the lending platforms can expand their operations without having to acquire additional funding. Netbank, the first Southeast Asia-based banking as a service (BaaS) platform operating via a bank license, is reportedly working closely with… Read More

July 11, 2021 @ 4:39 pm By Tony Zerucha  |  

Several factors will contribute to strong growth in card payments in the Philippines, a new report from GlobalData suggests. Gains of 15.4 percent are expected due to the gradual revival of the economy, easing of lockdown restrictions, and improving consumer spending. Those gains will leave… Read More

July 10, 2021 @ 4:53 pm By Omar Faridi  |  

Netbank and Investree have announced a new partnership in order to expand electronic SME lending in the Philippines. Netbank, which is a banking as a service (BaaS) platform, and Investree, an SME lender from Indonesia, have confirmed that their partnership will focus on expanding loans… Read More

July 8, 2021 @ 7:41 pm By Priyanka Pani  |  

Vietnam is the latest among smaller nations to have joined the crypto bandwagon as the country is developing a strategy towards having a digital government. In the last few weeks, countries such as El Salvador, Portugal, and Philipinnes have introduced regulations around cryptocurrencies. Vietnam’s Prime… Read More