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Doris Yu · · 1 min readPhilippines’ NextPay joins Y Combinator, raises pre-seed funding
“NextPay, a digital bank for small businesses and entrepreneurs in the Philippines, has secured US$125,000 in pre-seed funding from Y Combinator,” reported e27.
Details:
- It will use the new capital to further develop its digital banking services for payments, credit, and personal cash management.
- With the development, NextPay becomes the latest tech startup from the Philippines to be accepted into Y Combinator, following Kalibrr, PayMongo, Avion School, and Dashlabs.ai.
Context:
- NextPay was founded last year, serving as an alternative banking solution for small businesses and entrepreneurs in the Philippines.
- The firm claims to have processed more than US$2.5 million worth of transactions for over 100 businesses in the country since its launch.
Editing by Miguel Cordon and Jaclyn Tiu
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