<article>Singapore-based venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=KK+Fund" target="_blank">KK Fund</a> has led a seed funding round in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Venteny" target="_blank">Venteny</a>, a hybrid employee benefits and financial technology solutions platform startup in the Philippines.</article>

Singapore-based venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=KK+Fund" target="_blank">KK Fund</a> has led a seed funding round in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Venteny" target="_blank">Venteny</a>, a hybrid employee benefits and financial technology solutions platform startup in the Philippines.
Japanese financial business group <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Ocean+Capital" target="_blank">Ocean Capital Inc</a>, and other investors also joined in the seed round.
The size of the deal was not disclosed.
Venteny was launched in April 2015 as an exclusive website which serves as a platform for employees working for companies in the Philippines. It got incorporated in August 2016 and now claims to have a record of more than 40,000 registered employees &#8220;and doubling in size every year&#8221;.
Venteny intends to use the proceeds to scale at a faster pace, which involves growing a much stronger team, developing new features for companies and employees, and to expand in Southeast Asia.
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The HR-tech startup offers clients’ employees loyalty programmes in the form of exclusive perks, which gives discounts at establishments such as restaurant, gym, and hotel.
Venteny also offers web-based short term loan services in partnership with banks and non-banks financial institution to eliminate the financial issues and to enhance loyalty, focus, and commitment to the member companies.
Venteny CEO and founder Junichiro Waide said the startup was established to fill out the gap between companies and employees, focusing on the increasing demand from both corporations and partner merchants including financial solution providers.
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&#8220;I see many companies in Southeast Asia have been facing issues with low engagement and high turnover rate of employees due to the reasons that employees sometimes experience short of cash, lack of credit, lack of reason to stay in the same company,&#8221; Waide said.
KK Fund founder and general partner Koichi Saito said that by working with corporates, Venteny has unique visibility to borrower’s ability to repay loans and can leverage on that in order provide short-term loans efficiently to borrowers.
&#8220;There is still huge pentup demand for consumer loans as not all major bank actively provide consumer loans, and the demand is still growing, but it is not easy to ascertain creditor’s creditworthiness due to lack of data in the region,&#8221; Saito said.
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Ocean Capital CEO Katsuya Kitano shared the same observation noting underdevelopment of infrastructure in Southeast Asia including Philippines has made limitations to people availing financial services.
&#8220;Venteny with its unique business model would overcome such limitations and bring the world where employees can work with less financial issues,&#8221; Kitano said.
Ocean Capital is an independent investment company that focuses its activity on the financial assistance services of a starting business such as online lending business overseas and social lending business, SMS Payment business, among others in Japan.
KK Fund is investing in seed stage internet and mobile startups across Southeast Asia, Hong Kong and Taiwan.
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Philippines: KK Fund leads seed round in HR-tech startup Venteny

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

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