Mochi recently launched its online accounts receivable platform that streamlines the invoicing process for SMEs. The Mochi platform offers invoice templates, embedded payment terms, payment link generation, automated reminders, and report dashboards.
SMEs make up over 99% of all business enterprises running in the Philippines while also employing 65.10% of the country. Despite their significant number and economic importance, however, many SMEs neglect the importance of recordkeeping and accounting. This oversight becomes particularly problematic during tax season and can even impede their access to financial capital needed to support their growth.
Established in January 2023 by Yroen Guaya Melgar and Adrian Peterson Co, Mochi caters to a broad spectrum of SMEs, including meal plan providers, marketing agencies, and freelancers. The platform automates various tasks, such as issuing both one-time and recurring invoices, while providing valuable insights into distinct categories like billed versus paid invoices.
The Mochi team also possesses extensive experience working with both the financial sector and other tech startups. Melgar currently serves as a Financial Sector Specialist with the World Bank and previously co-founded trade credit management insurance platform Vesl. She also served as an Entrepreneur in Residence at Kaya Founders, specializing in new business development. Co is also a Lead Software Engineer at Logitech, having fulfilled similar roles for several other startups.
According to Melgar, future product development is underway that will make Mochi’s services even more inclusive to SMEs. Planned product development includes access to finance allowing SMEs to use the data from their invoices to secure loans from institutional partners. “After months of development and pilot programs with select businesses, we’re incredibly proud to be bringing Mochi to the public,” said Melgar. “We built Mochi to make receiving payments easier, faster, and an overall better experience for Filipino SMEs who already have their hands full. Ultimately, we want Mochi to be every Filipino SME’s partner in managing financial transactions.”