Tech in Asia » Philippines

Numat focuses on converting raw bamboo into sustainable products.

https://www.techinasia.com/news/wavemakers-venture-secures-525k-boost-bamboo-processing

The startup said it is the first logistics company in the Philippines to integrate EVs into its fleet.

https://www.techinasia.com/mober-drives-green-revolution-ph-logistics

The Philippines-based fintech firm has been profitable since 2021 and is now valued at US$5 billion.

https://www.techinasia.com/gcash-eyes-ipo-rejects-digital-bank-route

The app, with over 90 million users, connects individuals to platforms like Bingo Plus and Arena Plus.

https://www.techinasia.com/news/gcash-faces-scrutiny-philippines-gambling-addiction

This initiative seeks to catch up with regional competitors such as Malaysia and Singapore.

https://www.techinasia.com/news/philippines-targets-tsmc-umc-bolster-chip-manufacturing

The seed funding from Archipelago Capital Partners aims to support launching operations in the Philippines.

https://www.techinasia.com/news/advanceai-lands-4m-financial-access

InsiderPH reports that AC Ventures will issue primary shares to Mitsubishi, giving it an indirect 6.5% stake in GCash.

https://www.techinasia.com/news/mitsubishi-secures-gcash-stake-318m-ac-ventures-deal

Phillipine startup OneLot raises US$4m pre-seed funding to boost AI fintech for car dealers.

https://www.techinasia.com/news/philippine-fintech-lending-startup-used-cars-raises

The country holds plenty of opportunities for tech startups to develop new and innovative solutions.

https://www.techinasia.com/fun-philippines-startup-scene

The semiconductor sector contributes nearly 20% to the Philippines' GDP.

https://www.techinasia.com/news/philippines-seeks-chip-giant-automation-fears

Opening Bell 🔔 is Tech in Asia’s free newsletter that brings you the biggest news on Asia’s publicly listed tech companies.

https://www.techinasia.com/maya-startup-stock-star

This financing round saw participation from the International Finance Corporation and Abu Dhabi's Lunate.

https://www.techinasia.com/news/philippine-fintech-salmon-secures-30m

The initial production will produce the equivalent of 6,000 electric vehicle batteries or 60,000 home battery systems.

https://www.techinasia.com/news/philippines-inaugurates-factory

However, much like its Philippine fintech peer GCash, Maya is still biding its time for a potential listing.

https://www.techinasia.com/solid-2023-numbers-propel-mayas-ipo-plans

The fintech firm aims to bring its agent network to the Philippines, where 66% of adults are unbanked.

https://www.techinasia.com/vietnam-mfast-eyes-15m-replicate-success-philippines

The financing includes a mix of debt and equity, with AHG Lab mostly contributing to DOON's initial funding.

https://www.techinasia.com/news/philippines-doon-15m-enhance-carsharing-platform

Both established names and new players are looking into M&As, partnerships, and AI integrations to boost market share.

https://www.techinasia.com/visual-story/key-ridehailing-players-sea-booking

In The Checkout this week, we look at how the Philippines’ Uno Digital Bank plans to equip mom and pop shops with digital tools.

https://www.techinasia.com/uno-taobao-innovate-asias-retail-scene

The digibank achieved profitability in all three of its consumer lending product lines in the Philippines, its CEO Greg Krasnov says.

https://www.techinasia.com/tonik-2023-financials

Around US$45 million to US$63 million worth of goods imported from China circulate on platforms like Shopee, Lazada, and Tiki in a single day.

https://www.techinasia.com/vietnam-mulls-vat-imported-goods-sold-ecommerce-sites

BayaniPay is part of a rising crop of fintech firms in the space that want to make the most of the country's potential in remittances.

https://www.techinasia.com/philippine-remittance-startup-extends-series-a-to-9-6m-in-wavemaker-backed-round

SID Global Solutions provides services such as customer experience analytics, supply chain management, HR platforms, and financial planning and analysis.

https://www.techinasia.com/sid-global-solutions-invests-20m-digital-hub-philippines

The acquisition also gives Beppo accreditation from the country's Bureau of Internal Revenue, which JuanTax secured in 2019.

https://www.techinasia.com/wavemakerbacked-beppo-raises-preseed-funding-buys-juantax-5-phbased-bookkeeping-firms

Humble Sustainability serves more than 75 businesses and has prevented over 250,000 kilograms of electronic waste from going to landfills.

https://www.techinasia.com/gobi-partners-leads-ph-cleantech-firm-humble-sustainability

With these products, Wise aims to cater to groups such as freelancers, international students, travelers, and relatives of overseas workers.

https://www.techinasia.com/wise-introduces-accounts-service-prepaid-card-philippines

This follows a January 2024 meeting between Philippine President Ferdinand Marcos Jr. and VinFast CEO Pham Nhat Vuong.

https://www.techinasia.com/vinfast-enter-philippine-ev-race-month

This week’s On the Rise analyzes VCs’ search for the next Indonesia in Southeast Asia and big tech’s bets in the region as they double down on AI.

https://www.techinasia.com/sea-vcs-eye-vietnam-philippines-indonesia

Homegrown VCs believe startups in the Philippines and Vietnam have high potential for profitability despite operating in restrictive environments.

https://www.techinasia.com/vietnam-philippines-attract-vcs-deterred-pricey-indonesian-market-headwinds-bring-hesitation

The edtech company's status in Indonesia is unclear, though it had abruptly suspended operations both there and in the Philippines last year.

https://www.techinasia.com/refocus-sued-for-over-1-6m-by-ex-students-in-indonesia

The US$5 million funding from Credit Saison's SIMPL comes after the Philippine BNPL startup doubled its revenue in 2023 while staying profitable.

https://www.techinasia.com/billeases-credit-facility-hits-40m-with-new-saison-investment

The Philippines-based BNPL firm is now gearing up for a series C funding round.

https://www.techinasia.com/billeases-revenue-double-57m-2023-hits-fullyear-profitability

The chairperson of the country's SEC said that Binance is a "threat to the security of the funds of investing Filipinos."

https://www.techinasia.com/philippines-move-binance-ban

The Zero to One and One to Ten funds will back 30 to 40 early-stage startups in the next four years.

https://www.techinasia.com/kaya-founders-doubles-down-on-filipino-startups-secures-18m

While working at Meta, a serial founder of social apps noticed that new features find "intense adoption" in the archipelago. He's not the only one.

https://www.techinasia.com/filipino-productmarket-fit-why-social-apps-go-viral-in-philippines

Socio-economic hurdles and smaller market sizes make it harder for baby ecommerce startups to scale in Southeast Asia.

https://www.techinasia.com/firstcry-leads-baby-care-ecommerce-india-consolidating-sea-cry

ProCredit is looking at expansion into the banking sector to provide a fuller suite of lending products to its customers.

https://www.techinasia.com/phbased-sme-lender-nets-4m-preseed