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FINANCIAL tech startup NextPay received $ 125,000 in funding from Silicon Valley-based Y Combinator, becoming the fifth Filipino startup to receive endorsement from the accelerator.
The funds will be used to expand its digital solutions for payments, credit and personal cash management, the company said in a statement Monday.
The NextPay platform offers small businesses digital billing, cash management, and batch payment services tied to Philippine banks and digital wallets.
“Our goal is to empower smaller companies with a spectrum of banking services that were previously unavailable to them due to the high requirements and high fees that are often targeted at larger, more developed companies that can afford them,” said the director Executive and Director of NextPay. -Said the founder Don Pansacola.
“We plan to introduce more payment acceptance methods, virtual credit cards and other digital solutions that allow companies to manage their cash flow and alleviate bottlenecks in the Philippine financial landscape.”
NextPay, he said, will also partner with accounting and human resources software companies to streamline financial operations for growing companies.
The company has processed $ 2.5 million or P120 million in digital transactions for more than 100 companies since its launch last year.
Y Combinator has also supported Philippine companies Kalibrr, PayMongo, Avion School, and Dashlabs.ai. Internationally, he has helped launch Airbnb, Dropbox, and Twitch. – Jenina P. Ibáñez
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