Saturday, February 24, 2024

Local tech startup launches finance tracker for small businesses

To provide small-scale enterprises, as well as freelancers and individuals, with digital tools that can help them manage their business, local startup Lista PH is offering its mobile platform that is now downloadable for free from the Google Play Store for Android users.

Lista PH

At launch, the mobile app has four core functions: real-time recording of sales and expenses with automated calculation of total profit, accounts payable transaction documentation with regular billing reminders and due dates that are sent via messaging apps like Messenger and Whatsapp to both customers and suppliers, separate bookkeeping for multiple businesses or branches, and enterprise-grade security for the users’ business financial data.

In a survey conducted by Lista PH among 300 microentrepreneurs, a large 64% are still employing traditional and manual methods to monitor income, expenses, and customer debts, and 26% are not able to track these at all. To date, the app has processed over P75 million in receivables, tracked debts, recorded transactions, and invoices issued.

“Helping Philippine MSMEs was an advocacy close to my heart. Growing up, I saw the challenges my family endured in running a sari-sari store. I spent almost a year just talking to various MSMEs in the province and trying different ideas to help them grow. And that’s when I realized that the first thing to do to really help them grow is through digitization and replacing pen and paper with easy-to-use tech,” shared Lista PH co-founder Aaron Villegas.

Per user, an average of P3,800 has been paid since its September launch. The platform is backed by several investors that include former Grab Philippines president and co-founder Brian Cu who recognized that financial awareness and inclusion remain a big issue in the Philippines and that the lack of right tools and poor tracking are the main culprits.

Other investors include Willy Arifin of Monde Nissin Family Ventures, Jitendra Gupta of Jupiter Bank, Pinelabs CEO Amrish Rau, CRED founder Kunal Shah, Google Asia Pacific senior executive, and several well-known angel investors.

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