Philippines

The latest fintech news, resources and expert analysis in the Philippines by the leading intelligence provider for the worldwide fintech community.

xendit

Payments infrastructure firm Xendit lands $300m Series D round

This latest round brings Xendit’s total funding raised to date to $538 million.

Filipino fintech Voyager Innovations hits unicorn status with $210m raise

The new funding has propelled Voyager’s valuation to nearly $1.4 billion.

Philippines’ PayMongo raises $31m Series B to support nation’s SMEs

The Manila-based start-up has now raised around $46 million in total capital.

Thailand’s Siam Commercial Bank invests $100m in digital finance platform Akulaku

Akulaku CEO William Li says the companies share a vision for banking that is “expansive and inclusive”.

Tinkoff Bank launches Russia’s first fully digital mortgage; plans Philippines expansion

“The refinancing and lending process will be extremely simple and 100% digital,” Tinkoff states.

Digital bank Tonik raises $131m, eyes international expansion

Tonik’s Series B equity funding round was led by Japanese banking heavyweight Mizuho Bank.

Philippines’ UnionBank picks Metaco’s Harmonize to manage digital asset operations

Metaco provides security-critical software and infrastructure for the digital asset ecosystem.

Russian digital bank Tinkoff taps Finastra for Asian expansion

Finastra’s Fusion Essence Cloud solution will power the bank’s planned subsidiary in the Philippines.

South African challenger bank Tyme completes $180m Series B with Tencent investment

The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.

Singapore fintech Sleek raises $14m to fund global expansion

The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.

Filipino fintech Mynt secures $300m fundraise at $2bn valuation

Mynt’s most notable subsidiary, GCash, is the archipelago nation’s most popular e-wallet.

Filipino BaaS player Netbank picks Chekk for KYC services

Netbank to integrate Chekk platforms into its white-label offerings for customers and businesses.

Ascend Money becomes Thailand’s first fintech unicorn with $150m fundraise

Thai fintech plans to boost financial inclusion efforts in Southeast Asia.

xendit

Payments infrastructure firm Xendit secures $150m funding round

Company plans to expand beyond its Indonesian and Philippines strongholds.

DWG expands into Singapore with remittance app acquisition

Fintech says Singapore will act as a springboard for expansion into North America and Europe.

Russian digital bank Tinkoff plans Philippine expansion

Reports suggest the move is part of a wider strategy to enter the Asian market.

Philippines to close digital bank licence applications as GOtyme gets the nod

Central bank says the window for digital banking licence applications will close on 31 August.

Voyager Innovations raises $167m to power digital banking push

Tech firm aims to provide banking to 38 million customers.

BaaS-based Netbank goes live in the Philippines

Netbank plans to offer a “full range” of banking services to migrating firms.

Philippines grants digital banking licence to Unobank holding company

Unobank aims to bridge the financial inclusion gap in its home country.

UnionBank plans total cloud migration with Amazon Web Services

It aims to be the first entirely cloud-hosted bank in the Philippines.

Pine Labs raises $285m in venture funding to reach $3bn valuation

Merchant payments platform Pine Labs plans regional expansion.

PBCOM goes live on cloud-based Temenos core banking system

Philippine bank first signed for Temenps back in 2012.

Dutch VC Finch Capital snaps up Wirecard’s APAC assets

The purchases were made through Nomu Pay.

Philippines-based neobank Uno boosts AI services with Xebia deal

The prospective bank is pushing its AI capabilities as a unique selling point.

Tyme lands $110m in Series B funding, plans Asia-Pacific expansion

TymeBank looks to expand beyond its South African headquarters.

Philippines neobank Tonik signs credit assessment deal with FinScore

The challenger wants to extend loan applications to more underbanked Filipinos.

Philippines’ mobile wallet GCash closes on $1bn valuation with new funding

Mynt-operated firm raises $175m from US investor.

Fintech funding deals globally 4-10 January 2021

Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.

Prospective Philippines digital bank Uno picks Mambu

Uno’s parent DigiBankAsia is working with Philippine regulators to obtain a licence.

Philippines central bank to publish digital bank framework this month

A basic digital bank will require a minimum capitalisation of $8.2 million.

Wirecard business partner reported dead in Philippines

Bauer’s company made up €291.4m of Wirecard’s 2018 profits.

GoBear and UnionBank launch new lending service in the Philippines

Partnership claims to be first of its kind in the country.

UAE’s remittance fintech Denarii Cash expands beyond Middle East

The new corridors span the Middle East, and into South East Asia and Africa.

The Philippines launches government-owned OFBank for overseas citizens

Filipinos will be able to sign up to the new service with a selfie.

UnionBank to tap rural Philippines with 11,000 remittance counters

70% of Filipino adults are still unbanked.

Philippines challenger Tonik raises $21m ahead of 2020 launch

The bank has raised $27m since being founded in 2018.

Bank of the Philippine Islands deploys Avaloq Banking Suite as SaaS

The new client is Avaloq’s first in the Philippines.

Singapore’s GoBear snaps up fintech AsiaKredit

GoBear’s bank partners will be able to tap underserved consumers.

Visa invests in open banking platform Railsbank

The regtech firm gained extra capital from Japanese VC Global Brain.

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