As of August 30, 2023, the Philippines stands out with its distinctive and thriving startup ecosystem. Over the years, this vibrant nation has birthed numerous successful startups, some of which have soared to billion-dollar valuations. Whether you’re an aspiring entrepreneur or simply curious about the Philippines’ rapidly growing startup scene, here’s a comprehensive list of 14 innovative startups that call this country home.
1) Great Deals E-Commerce
– Founded in: 2014
– Location: Quezon City
– Founder: Steve Sy
– Industries: E-Commerce, Retail
– Employees: 51-100
– Funding: $41,313,871
Great Deals E-Commerce is your one-stop destination for comprehensive e-commerce solutions. They offer services ranging from digital content, and web design to analytics and chat assistance. Based in Quezon City, this startup has already secured significant funding, with a total of $41,313,871 from three investors, including CVC Capital Partners, FAST Groupand Navegar.
2) Kumu Holdings
– Founded in: 2017
– Location: Manila
– Founders: Rexy Josh Dorado, Roland Navarro de Ros
– Industries: E-Commerce, Media and Entertainment, Social Media, Video, Video Streaming
– Employees: 51-100
– Funding: $21,550,000
Kumu Holdings has made it its mission to foster Filipino creativity, community and commerce. Headquartered in Manila, this social entertainment platform offers a space for individuals to showcase their talents and engage with their community. With five funding rounds, they’ve raised an impressive $21,550,000 from ten investors, including Endeavor Catalyst, Openspace Venturesand Susquehanna International Group (SIG).
3) Uploan
– Founded in: 2017
– Location: Manila
– Founders: Benoit Portoleau-Balloy, Liam Grealish
– Industries: Financial Services, FinTech, Lending
– Employees: 101-250
– Funding: $25,600,000
Uploan provides employers with an end-to-end “Salary Loan Management Platform.” This Manila-based startup aims to simplify and streamline salary loans for both employers and employees. They’ve secured $25,600,000 in funding from two investors, Lendable and Infinity Ventures Japan.
4) Mynt
– Founded in: 2015
– Location: Rizal
– Industries: Financial Services, FinTech, Micro Lending
– Employees: 501-1000
– Funding: $175,000,000
Mynt offers a wide range of financial services, including payments, remittances, loans, business solutions and platforms. Situated in Rizal, this startup is dedicated to serving the financial needs of those underserved by traditional banks. They’ve amassed an impressive $175,000,000 in funding from Bow Wave Capital Management.
5) PayMongo
– Founded in: 2019
– Location: Rizal
– Founders: Edwin Lacierda, Francis Plaza, Jaime Hing, Luis Sia
– Industries: Financial Services, FinTech, Payments
– Employees: 11-50
– Funding: $14,700,000
PayMongo is a payment processing firm that provides a payments API for integration into mobile apps and websites. Based in Rizal, their services are aimed at making online payments simpler and more accessible. They’ve raised $14,700,000 in funding from eight investors, including Founders Fund, Stripe and Y Combinator.
6) Voyager Innovations
– Founded in: 2013
– Location: Cavite
– Founder: Orlando Vea
– Industries: Developer Platform, Innovation Management, Internet
– Employees: 501-1000
– Funding: $335,000,000
Voyager Innovations specializes in the creation and distribution of digital services. This technology firm, located in Cavite, plays a pivotal role in the digital landscape of the Philippines. They’ve raised an astounding $335,000,000 from five investors, including Tencent, International Finance Corporation and Kohlberg Kravis Roberts.
7) PDAX
– Founded in: 2017
– Location: Manila
– Founders: Krystian Kucharzyk, Nichel Gaba
– Industries: Cryptocurrency, FinTech, Personal Finance, Virtual Currency
– Employees: 11-50
– Funding: $1,100,000
PDAX stands as a digital currency exchange platform that enables users to trade and settle transactions in Philippine Pesos. With headquarters in Manila, this startup has made cryptocurrency accessible to the masses. They’ve secured $1,100,000 in funding from three investors, including CMT Digital Ventures, ConsenSys Ventures and 100x Ventures.
8) Coins.ph
– Founded in: 2014
– Location: Rizal
– Founders: Ron Hose, Runar Petursson
– Industries: Bitcoin, Financial Services, FinTech, Mobile Payments
– Employees: 251-500
– Funding: $10,000,000
Coins.ph offers financial services to individuals traditionally underserved by traditional banks, using mobile devices as a conduit. Situated in Rizal, this startup has embraced Bitcoin and mobile payments. They’ve raised $10,000,000 from eleven investors, including Digital Currency Group, Global Brain Corporation and Pantera Capital.
9) First Circle
– Founded in: 2015
– Location: Rizal
– Founders: Jorrit Koop, Patrick Lynch, Tony Ennis
– Industries: Business Development, FinTech, Small and Medium Businesses
– Employees: 51-100