Incubix Technologies, the first “venture builder” startup in the Philippines, has partnered with local financial technology (fintech) startup VMoney Inc with the goal of disrupting the e-commerce business.
Incubix Technologies that claims to be a venture builder is different from incubators, accelerators, venture capitalists and angel investors. It hatches business ideas from within its own network of resources and appoints internal teams to complete its development and successful deployment.
With founders originating from New York, Incubix Technologies has partnered with VMoney for online payments.
The size of the deal, however, was not disclosed.
VMoney will serve as an online payment channel for all of Incubix Technologies’ ventures, such as Marino Daily and iKonsulta. The former is a consolidated news site specifically designed to connect Filipino seafarers with current events, while the latter is a soon-to-launch video chat app that allows patients to get in touch with doctors on demand.
“As a venture builder, using web technology to create solutions that will serve niche markets, we are happy to partner with VMoney as the backbone payment gateway because of their technology solutions and excellent support systems. We believe VMoney’s competencies will make the difference in providing a seamless experience both for our operations and our customers,” said John San Pedo, CEO and co-founder of Incubix Technologies.
The approach of Incubix Technologies as a venture builder is described to be unconventional yet unique, as it hinges on the philosophy that “start-ups can be conceptualized and built from within the limited resources of a technology studio.”
VMoney, which started at the latter part of 2013, has earned a number of company clients that now use its financial transaction platform focused on payment processing solutions.
VMoney’s clients, partners, and affiliates now include listed Philippine banks, major interbank networks, popular retail brands, and other tech startups.