Fintech News

Popular Fintech Companies in Philippines

HSBC predicted that in 2050, Philippines will be the largest economy in South East Asia, 5th largest in Asia and 16th largest in the world. Despite being projected as a fast growing economy, the country is riddled with many issues within its financial service industry.  For instance, 69 percent of its adult population remains unbanked. However, with a population of more than 100 million, a mobile phone penetration rate of 87 percent and an internet penetration rate of 46.5 percent, the country is believed to be a fertile area for fintech solutions and ventures. This list of popular fintech companies Philippines will give you an overview of the fintech sector in the country:

  1. Ayannah

Founded in 2008 by Mikko Perez, Ayannah aims to be the top provider of mobile commerce and payment services to the unbanked population. The company operates payment services and digital commerce and has enabled millions of mobile and online transactions. Although the company mainly caters to OFWs, it is aspiring to grow its network in Latin America and South Asia. The startup won the main award at the Rising Expo SEA 2015.

  1. PayMaya

PayMaya provides a secure online payment solution without a need for credit card. It is one of the most aggressive and first fintech company in the country to provide users with a digital prepaid Visa card that can be used for both online and offline payments. According to Forbes Philippines, the company has earned Php 838.7 million.

  1. MoneyMax.ph

Founded in 2013, MoneyMax.ph  is an online financial comparison site for Filipinos. The website helps users compare deals on personal and housing loans, credit card products, car insurance and roadband options all under a minute. All options presented are tailored for each user, based on the information they provide.

  1. LoanSolutions.ph

Founded by Jean-Patrick Bisson in 2014, LoanSolutions.ph facilitates easy and fast access to credit for different financial needs by linking borrowers to many lending partners. It is s the largest network of lenders in the Philippine.

  1. Coins.ph

Coins.ph is a mobile platform that connects over 300 million people in Southeast Asia. Founded in 2014, the company utilizes existing retail infrastructure (over10, 000 locations) for withdrawals and deposits, cutting down on one of the biggest cost elements of traditional retail banking. The company processes thousands of transactions per day, including bills payment, remittances, and mobile top-ups.

  1. Satoshi Citadel Industries

Satoshi Citadel Industries is a fintech company that builds Blockchain products and services for the purpose of financial inclusion in the Philippines. The company was founded by Jardine Gerodias, John Bailon and Miguel Cuneta in March 2014. Headquartered in Makati, the company is responsible for the establishment of many services and products in the Philippine blockchain and bitcoin sector.

  1. Lenddo

 Lenddo, the world leader in scoring and identity verification technology, uses non-traditional data to offer credit scoring and verification for the emerging middle class. The company gauges individual’s creditworthiness via his or her social media accounts, veering from what many traditional financial institutions demand. Founded in 2011, the company aims to help the rising middle class in emerging markets.

  1. Mynt

Mynt, the Globe Telecom-backed company, aims to address financial inclusion through mobile money, micro-loans, and technology.  The company extends the mobile money service of GCash into mobile and online payments, loans, remittance and business solutions platforms. Recently, the company has partnered with Bureau of Internal Revenue (BIR) to extend tax payment services of the agency to mobile.

  1. Pawnhero

Founded in 2014, PawnHero is the first online pawnshop in Southeast Asia.  The company offers flexible loan terms with a loan redemption period minimum of 4 months and a maximum of 15 months. Unlike traditional brick-and-mortar pawnshops, the company accepts many items including home equipment, jewelry, electronics, luxury goods, and other personal items as collateral for a secured loan.

  1. Cropital

Cropital is a crowdfunding platform that connects anyone to help finance farmers.  The platform allows users to invest at least Php 5000 to a farmer’s land, getting shares from profits raised by the crops. Rachel de Villa, the company’s chief operating officer, was named at this year’s Forbes Asia 30 Under 30 list.

To get more information about Fintech Companies Philippines, please subscribe to our updates on Facebook and Twitter.

Comments

Most Popular

To Top

Pin It on Pinterest

Share This