Author: Christian Francisco
In a disclosure on its website, IFC said the proposed investment will help the fintech startup further provide unsecured credit lines to SMEs in the Philippines.
The partnership sees Ninjacart deploying capital and supply chain technology to further boost Mayani’s innovation and growth trajectory, according to the announcement.
The pre-Series A funding round was anchored by Vynn Capital, a venture capital firm that specializes in mobility and supply chain sectors, and backed by existing investors, including Philippines-based Kaya Founders.
The plan to expand to the Philippines is a strategic move as CNV targets micro and small businesses seeking to transform their businesses digitally to reach more customers.
Financial details of the investment were not disclosed but Hubware and BuildMart PH said the fresh funding will enable Hubware to build a holistic digital construction ecosystem in the Philippines through BuildHub.ph.
With the Up-Scaling Programme, DEG finances new investments of early-stage SMEs aimed at scaling innovative business models with high development impact.
Founded in 2019, Fairbanc piloted in Bangladesh with Unilever before it was rolled out in Indonesia in 2021. It enables MSMEs to purchase inventory on BNPL credit in partnership with large consumer brands.
Asialink, established in June 1997, will use the fresh investment to expand its lending capacity and support the growth of SMEs, the backbone of the Philippine economy and a major generator of jobs in the country.
The round was led by early-stage investor Integra Partners and participated by a host of investors, including the Menardo Jimenez Family Office, M Venture Partners, Cento Ventures, Gobi Partners, through the Gobi-Core Philippine Fund, and several local angels.
In a statement, UNOAsia said the funding round was a mix of equity and debt, which augurs well for the company as it seeks to solidify UNO Digital Bank’s presence in the Philippines.
The company’s Smartscooters will serve as an eco-friendly alternative to fossil fuel-powered vehicles currently used by the logistics and last-mile delivery industry.
The funding round was anchored by RT Heptagon Holdings, a local company that manages a diverse family of businesses headed by chairman and president Rex Tiri.