3 FinTech Companies in the Philippines Empowering SMEs

By Leandra Monteiro

The digital financial services industry in the Philippines has undergone a digital transformation over the past 2 years, driven by a youthful, urbanized population in conjunction with increased mobile usage.

Manila has a robust English-speaking population and a more Western-leaning culture is a natural fit for the growth of FinTech. According to the country’s Ministry of Trade and Industry, there are around 136 FinTech companies registered in the country.

Here are 3 FinTech companies to boost the SME industry in the Philippines:

First Circle was founded by Patrick Lynch and Tony Ennis to empower small and medium-sized enterprises (SMEs) in emerging markets by financing their business-to-business (B2B) trade transactions. Thus helping them grow by providing easy access to financial services.

As the company looks to the future with economic optimism, it prepares to partner and empower more and more SMEs in the Philippines.

Investree is a FinTech company founded in Indonesia in 2015. It has expanded its operations to Thailand and the Philippines. The Securities and Exchange Commission (SEC) has granted Investree Philippines a permanent license to operate as a crowdfunding platform – the first in the country. With this, it aims to become the industry’s preferred partner for small and medium-sized businesses, as well as to improve the availability and affordability of working capital.

Small and medium enterprises are the backbone of the Philippine economy, employing over 3 million Filipino workers. Yet, despite such remarkable contributions, there remains a ₱11 trillion credit gap that has prevented these businesses from achieving their full potential. Investree aims to fill this gap.

JazzyPay is a modern and efficient payment gateway system for businesses in the Philippines. It enables businesses to increase their revenue by accepting all types of payments from customers, be it through credit cards, debit cards, online banking payments, e-wallets or cash deposits over the counter.

JazzyPay streamlines companies’ payment collection and saves time by scheduling payment requests and sending invoices individually or in bulk. Businesses can also activate automatic reminders to notify customers of payment deadlines via SMS, email and voice calls.

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