Software maker Mosaic Solutions has raised $1.5 million in a pre-Series A funding round while payment startup JazzyPay secured $500,000 from Cocoon Capital, according to separate announcements.
Mosaic Solutions raises $1.5m in pre-Series A funding
Mosaic Solutions, a SaaS startup that targets the F&B and hospitality industries in the Philippines, announced raising $1.5 million in pre-Series A funding anchored by Australian early-stage venture capita firm Investible.
The fresh funding brings the startup’s total funds raised to date to $3 million from investors in the US, Australia, New Zealand, Singapore, Malaysia, and the Philippines. In the latest funding round, IdeaSpace, KMC Founders, and JC Capital also participated.
The SaaS startup, launched in 2016, provides software solutions such as data analytics, inventory management, point of sale, and purchasing to businesses in the F&B and hospitality sectors, including restaurants, bars, cloud kitchens, commissaries, hotels, casinos, retailers, and more, in the Philippines.
Mosaic seeks to further growth in the Philippine market and eyes to expand regionally after its Series A funding round in 2021, the company said.
Cocoon Capital backs payment startup JazzyPay
The startup, which processes 27 different payment methods for merchants mainly in the health care and education sectors, said it will use the fresh capital to expand its merchant network in the country and boost its product development capabilities.
JazzyPay was founded in 2018 by Kathleen Acosta and Joshua Marindo and has received a full license from the Bangko Sentral ng Pilipinas, the country’s central bank, as an operator of payment systems. It currently targets underserved businesses, such as schools, clinics, medical suppliers, and hospitals.
The company said its platform supports not just credit and debit cards but also major e-wallets such as AliPay, CoinsPH, GCash, GrabPay, and WeChat Pay.