Voyager Innovations, the technology company behind e-wallet platform PayMaya and soon-to-be-launched digital bank Maya Bank, said it raised $210 million in new funds, propelling its valuation to unicorn status at nearly $1.4 billion.
Said to be the first of its kind in the Philippines, the payment service allows users to transfer money to any bank or e-wallet without the need for the recipient’s account details – only an email.
Aside from venture capital, Plentina co-founder and CEO Kevin Gabayan said government grants that do not add red tape would also contribute to a startup’s progress.
Konstruk said it wants to help community hardware stores, wholesalers and distributors, and manufacturers of construction materials including home appliances and furniture become part of the online business ecosystem to promote new products and push their inventory through the platform.
Despite the record amounts of funding flowing into the greater Asia Pacific region, Philippine start-ups are facing one major obstacle -- the lack of investments in the country’s start-up market.
Fintech startup Plentina recently appointed Alex Aronson, a veteran of the e-commerce and retail technology industry, to be its next general manager for the Philippines.
Digital Pilipinas (DP), a private sector-led movement that aims to create an digital ecosystem for the country, inked a Memorandum of Understanding with the Department of Science and Technology (DOST) to layout strategies in establishing university-based innovation centers across the Philippines.
