By Cecilia Yap
The venture, set up last year by Gokongwei’s JG Summit Holdings Inc. and financial-technology startup Oriente, seeks to give credit through a digital platform to Filipinos.
Grab Philippines head Brian Cu said the company will continue to invest in the Philippines with a budget of $57 million) in the next 12 to 18 months.
As valuations in markets such as Indonesia and Vietnam heat up, the Philippines could offer better value to investors.
The funding round gives the company a seven-digit USD valuation, tripling its value a year after its initial funding round.
Del Monte Pacific earlier said it intends to use the proceeds from the offering to partially prepay or repay certain loan facilities.
Pacquiao will help Revolution Precrafted design affordable homes and sports-inspired residential developments.
Ayala Corporation will own 50 per cent of UPC Renewables Australia through its wholly owned subsidiary AC Energy.
The deal marks Revolution Precrafted’s expansion into its ninth international market.
AC Energy’s assets are 80% thermal and 20% renewable, with a total value of 135 billion pesos ($2.6 billion), according to a recent CLSA report.
Regulators in Southeast Asian countries have issued permits to new ride-hailing companies to compete with market leader Grab.