March 29

Filipino Fintech Advance Secures $16 Million in a Pre-series A Funding

Filipino fintech Advance has successfully secured $16 million in a pre-Series A funding led by Do Ventures out of Vietnam and Lendable, a technology-enabled investment and debt provider to fintechs in emerging markets.

New investors Phoenix Holdings, Kaya Founders, Foxmont Capital, Oyster Ventures, and Crossocean Ventures, as well as existing investors Wavemaker Partners, Next Billion Ventures, Integra Partners, and Accion Venture Lab also participated in the round,

Along with the fresh funding, Advance announced that it has expanded into Vietnam with the acquisition of a counterpart platform there.

Photo courtesy of Fiona Graham / WorldRemit Comms.

Source: Technode Global (link opens in a new window)

Finance, Technology
employment, fintech, innovation