Philippines: Japan’s SBI Investment leads $2.3m series A in tech startup Venteny

Source: Venteny

KK Fund-backed Venteny, a hybrid employee benefits and fintech solutions platform in the Philippines, has raised $2.3 million in its Series A round led by Japan-based venture capital fund SBI Investment.

Others who participated in the round were Tokyo-based VC firm SV-FINTECH Fund, another independent firm from Singapore aside from KK Fund, and also key figures in Japan’s fintech community Mamoru Taniya, and Makoto Takano. SBI is the VC arm of Japanese conglomerate SBI Holdings Inc.

Launched in April 2015 by its founder and current CEO Junichiro Waide, Venteny began as an exclusive website, a company membership platform that served as a perks option for employees working for companies in the Philippines and as a benefits outsourcing service business for enterprises.

In August 5, 2016, it was incorporated in Singapore as Venteny Pte Ltd. The business since then managed all operations in the Philippines as a pilot market before expanding to other countries in Southeast Asia.

Venteny offer clients’ employees loyalty programs in the form of exclusive perks, which provides employee discounts at establishments such as restaurants, fitness centers, including resorts and hotels.

The company also offers web-based short-term loan services as a service to company employees to secure fast, safe, and reliable access to emergency cash. The goal is to enhance company loyalty and provide better options for employees without the high financial costs usually associated with these types of service.

Venteny now claims to have a community of more than 80,000 registered employees in the Philippines.

The company’s latest financing round came following its recent partnership with the Philippine Contact Center Association (CCAP) as a solutions provider. CCAP represents the local contact center industry which is the biggest portion of the total BPO industry in the Philippines with an 800,000 employee count.

“This funding round will be deployed to accelerate the development of the platform and strengthening the group structure of Venteny for the forseable future,” Waide said in a statement.

Aside from the BPO industry, Venteny has also partnered with banks and financial institutions, insurance companies, and IT companies.

“With the rapid growth of our business, founders sought outside funding to help materialize the plans for our technology as we aim to further expand business opportunities in the ASEAN region,” Waide added.

Venteny last February raised an undisclosed sum in its seed funding round led by KK Fund, joined in by Ocean Capital Inc and other investors.

Also Read:

VC deal activity falls in the Philippines in 2017 but tech space holds promise for startup ecosystem

Philippines: KK Fund leads seed round in HR-tech startup Venteny 

Malaysia: KK Fund, Cradle lead seed round for Freshcart’s new office supplies portal

MY: Fintech startup Jirnexu raises $2m in pre-Series B round led by SBI Group

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.