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This landmark deal will bolster Mober’s fleet to 110 units, solidifying its position as a pioneer in eco-friendly delivery solutions.
The strategic partnership with Nubank will fuel Tyme Group’s expansion plans in Southeast Asia, particularly in Vietnam and Indonesia.
The investment will support the company’s expansion of stores and warehouses across the Philippines.
It will use the fresh funds to further enhance its embedded finance offerings and to expand in Southeast Asia.
Aside from growing its loan portfolio to more than P100 billion, Montemayor said that the startup is also looking at a $200 million net income from its Philippine operations.
The startup said it will use the additional funding to boost its bill pay service to accommodate payments not just from the United States but also from other countries worldwide.
The acquisition will help propel the expansion of GoTyme Bank’s payroll-enabled financial products and give the bank access to SAVii’s more than 500,000 customers, according to the announcement.
This collaboration aims to broaden financial accessibility for over 500 million underserved individuals in the region, particularly those without traditional banking accounts, according to the announcement.
Per the announcement, the startup will lower the cost of real-time payments to allow financial institutions to reasonably price their instant payment services.
Australian fintech Stables launches stablecoin-backed remittances between Australia and the Philippines
By Pancho Dizon
Stables users spanning over 130 countries can now send Australian dollars or Philippine pesos to a recipient pool exceeding 140 million individuals across Australia and the Philippines, all facilitated by stablecoins.
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.