BPO founder invests $100k in PH fintech startup SCI

On a lookout for tech innovations that can address social issues, healthcare entrepreneur Joe Maristela has invested $100,000 (P4.4 million) in Philippine-based financial technology (fintech) startup Satoshi Citadel Industries (SCI).

A founder and chief operations officer of healthcare business process outsourcing (BPO) firm Star Business Centers in Makati City in Metro Manila, Maristela and his partner chose SCI of other local Bitcoin companies because of its seasoned team members and company culture.

SCI is the first universal Bitcoin company in the Philippines that recently acquired BuyBitcoin.ph — a peso to bitcoin “over-the-counter” exchange, which allows Filipinos direct access to buying and selling the digital currency.

Also Read: Philippines’ fintech startup Satoshi Citadel acquires BuyBitcoin.ph

“SCI is the best positioned outfit of all the other groups that we’ve evaluated that can really go international. And that is something that is ingrained in our investment philosophy,” Maristela said, during an interview with DEALSTREETASIA.

He said they saw SCI to be the firm that will also be able to address social issues.

“Social Impact is part of their business and culture, and they are deploying specifically and explicitly Bitcoin technology in order to serve the unbanked and lessen the barriers, and entry in terms of getting active and mobile and the economy,” Maristela added.

SCI’s John Bailon said their company plans to use the funds to scale up operations and to strengthen their brand.

The local fintech startup just celebrated its first year last week.

Maristela disclosed he might conduct another significant investment in a Philippine startup, including the establishment of an investment funding company soon.

He is encouraging other traditional entrepreneurs to invest in Philippine tech startups.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.