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 expansion, infrastructure improvements, membership acquisition, and also aid in the recruitment of key talent.

CashCashPinoy has secured over $4 million in total financing since establishing operations in 2010 with previous investments coming from international and Filipino entrepreneurs.

According to Hera Capital managing partner Sebastien Guillaud, the PE firm was impressed with CashCashPinoy’s quality of offers proposed online, the robustness of the platform, the digital expertise of the team, and its superior ability to execute.

“Our investment will exclusively be used to accelerate the growth of CashCashPinoy in the Philippines, a country of more than 100 million people increasingly embracing e-commerce. Our capital and operational support will focus on further enhancing the online customer experience and build the largest base of loyal online consumers in the country,” Guillaud added, in a statement,

During the last four years of operations, CashCashPinoy has grown to be a market leader with over 1.5 million registered users currently, translating to an average 35,000 transactions and 23,000 deliveries per month.

The company said 60% of its traffic was already originating from  mobile devices, achieving these numbers in only three months since it had launched its mobile version.

CashCashPinoy is also releasing REVO, the next-generation version of its proprietary platform.

Hera Capital’s portfolio includes Sohie Paris, Bel Perfumes, social marketing company Wildfire and Reworld Media, a multichannel media group building relationships between consumers and brands through an innovative editorial process.

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.