Philippines: PawnHero bags $9.7m financing, partners PLDT fintech arm

From left are PawnHero CFO Syam Devineni, PawnHero chairman and founder David Margendorff; PLDT, Smart, Voyager, and FINTQ chairman Manuel V. Pangilinan, Voyager president and CEO Orlando Vea, and FINTQ managing director Lito Villanueva.

Southeast Asia’s first digital pawn shop PawnHero has closed a $9.7 million (P500 million) financing deal with a Philippine investment bank even as it signed a partnership agreement with the fintech arm of telco giant PLDT.

PawnHero chairman and founder David Margendorff declined to name the investment bank but said “the credit line agreement will allow PawnHero to grow its loan book and service more customers.”

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