From being laggards in Asia, as China and India mopped up most of the PE-VC funding, Southeast Asian nations are reaching a tipping point. According to a recent report by Google and Temasek, the region’s 260 million internet users — with an additional 3.8 million coming online every month — is spurring its internet economy.
In the Philippines, the FinTech ecosystem remains modest (see chart on page S4/2). But according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor A. Espenilla, Jr., the growth trajectory of the local FinTech scene is mimicking that for the rest of the world, with investments flowing into the payments and underserved segments of the market.
From the government, startups, and social enterprises, we take a look at the startup ecosystem influencers who make startup life more fun in the Philippines.
The fintech startup will use funds to increase customer and agent acquisition, and ramp up product development and international expansion
Ayannah has been listed as the 8th most funded Fintech startups in Southeast Asia.
Last January 16, 2015, the two companies delightfully announced that nearly 3.5 million electronic load transactions have been completed and 1 million customers have been served since the collaboration began in 2011.
To anyone familiar with the Asian fintech and remittance world, Ayannah can be considered a household name. Started in 2009, Ayannah offers ways for underbanked people to transact online without going through banks, and also provides an e-commerce gateway that lets guest workers send goods to their relatives back home.