March 7

Enstack Raises $3 Million to Help Digitize SMEs

Business superapp Enstack has raised $3 million after the completion of a funding round to support its goal of digitizing small and medium enterprises (SMEs) in the Philippines and across Southeast Asia.

In a statement on Thursday, the startup said it was able to raise the amount after a funding round led by Mangrove Capital Partners, which marked its first investment in Southeast Asia. The other participants include payments startup Xendit and Shinsegae International Chief Executive Officer William Kim.

Photo courtesy of Fiona Graham / WorldRemit Comms.

Source: BusinessWorld (link opens in a new window)

digital inclusion, digital payments, MSMEs, startups