Browsing: Updates
CEO and co-founder Georg Steiger said collateralizing the company’s loan book allows it to access funding to continue serving its fast growing, underserved customer base.
With the fresh funding, the startup plans to scale its platform to help both online and offline businesses and shipping companies in the country.
In addition to expanding into the Philippines, Docquity also seeks to strengthen its presence in Indonesia, Japan, and Taiwan.
The meeting delved into the possible areas for cooperation for Indonesian and Philippine entrepreneurs, especially in the areas of technology, energy, and healthcare, said Pandu Sjahrir.
The company will use the Series A funds to further grow its platform in the Philippines, Indonesia, and Malaysia, as well as double its headcount from the current 60-strong team.
With the acquisition, WeClean plans to include other revenue lines in the business, including alterations, which used to be done in Panda Cleaners before the pandemic.
Glints’ expansion in the Philippines comes as the employment rate in the country was estimated at 94% in May 2022.
The program is designed for high-potential seed to Series A tech startups that could help solve the tech challenges in the region.
The event was timely for Davao City, whose national ranking for startups dropped by one spot to fifth and two spots lower from its 19th place in Southeast Asia.
The startup is the only Philippine-based edtech company that made it to the cohort of Asian startups joining the accelerator program.
According to a report by Preqin, venture capital deal activity in Southeast Asia soared in 2021 to a record $20 billion, up 1.6x from 2020.
The Philippine HR-tech startup raised an undisclosed amount in a funding round to expand its service offerings.