Dragonpay raises Series A funding from GMO

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Philippines-based payment solutions provider Dragonpay has raised Series A funding from Japan’s e-payment titan GMO Global Payment Fund (GMO). The investment amount has not been disclosed. Dragonpay plans to use the newly raised funds to promote e-commerce in the country, while venturing into new payment channels, specifically on the mobile. These strategies are meant… Read more »

Northern Trust to invest $2.2b in Asia-Pacific ops, opens PH hub

US-based independent banking organisation Northern Trust launched its global operations center in the Philippines on Tuesday. The center will support processing and back-office functions for the company’s clients worldwide. The center is third such expansion site in Asia-Pacific this year, for the company, which has allocated $2.2 billion budget to scaling up… Read more »


SAP opens $7.7m finance, sales hub in PH

German software firm SAP has opened its long-awaited finance and sales hub in the Philippines. The company has invested $7.7 million to establish this hub, which is located at the Cyberspace Beta building in the financial district of Ortigas in Pasig City. The new facility is SAP’s third such site… Read more »


CashCashPinoy cleared of fake goods sale charge

Philippine-based mobile e-commerce company CashCashPinoy has been cleared of the charges related to the sale of fake luxury goods. A local court, ruled in the company’s favour dismissed the claim as a “fraudulent” issue. CashCashPinoy also denied reports regarding suspension of their online transactions by business partners Banco De Oro… Read more »


Philippines startup scene poised to take off: John Orrock

For the past several years, the tech industry in the Philippines has been considered a lucrative investment opportunity by the global investors. In fact, the local entrepreneurs are described to be “techie” in nature. The strange irony here is that, on the ground level, the country has very low levels of tech… Read more »


EastWest, PEMI launch feeder fund

Philippines-based EastWest Bank has joined hands with the investment management company Philequity Management Incorporated (PEMI), to launch the EastWest Philequity Feeder Fund. The investment product is a is a peso-denominated unit investment trust fund (UITF) that invests 90% to 100% of its assets in Philequity Fund Incorporated (managed and distributed… Read more »


PH set for smartphone explosion in 2015

Next year, Philippines is expected to witness an explosion of premier smartphone users, says the country-based telecom operator Smart Communications (Smart) The smartphone user penetration, which stands at 15% of the population, is expected to go up to 50% in 2015, the company added, citing a study by On Device Research. Smart has already… Read more »


CashCashPinoy raises $2m from Hera Capital

CashCashPinoy, a mobile e-commerce platform in the Philippines today said it secured a $2 million investment in a Series B round from Singapore-based private equity firm Hera Capital. Frederic Levy, Founder and CEO of the daily deals site said the funding and the expertise from Hera Capital would facilitate business… Read more »


Coins.ph plans iOS Bitcoin wallet app

Philippine-based Bitcoin exchange Coins.ph is planning to launch an iOS version of its mobile wallet app, designed specifically for Filipinos. The iOS version (just like the recently launched Android version) will allow users to shop online, and send cash anywhere in the Philippines. Christine Aguilar from the Coins.ph marketing team said… Read more »


PH to get its first ever tech startup roadmap

Heeding the call of technology entrepreneurs, the Philippine government is creating the first ever tech startup roadmap that will help boost the local technopreneurship industry. According to Department of Science and Technology (DOST) secretary Mario Montejo, the department’s ICT Office is leading the tech roadmap’s creation as part of its… Read more »