NEWS & RESOURCES
SEARCH FOR INCLUSIVE FINTECH 50
July 15, 2021
Inclusive Fintech 50 is looking for early-stage companies driving financial inclusion and resilience for populations hit hard by the pandemic. The application period officially closes on July 23. Apply today by visiting https://www.inclusivefintech50.com/.
JGDEV is part of the IF50 Investors’ Network, a global network of investors that provides members with visibility into promising early-stage inclusive fintechs.
GROWSARI RAISES $30-M FROM TENCENT, IFC, GOKONGWEI GROUP
July 7, 2021
GrowSari, a Philippine B2B E-commerce player, has raised US$30 million in funding to date from global marquee investors including China’s Tencent, International Finance Corporation, and the Gokongwei Group.
Founded in 2016, GrowSari is a tech-enabled B2B platform that outfits Philippine sari-sari store owners with inventory, infrastructure, and tools to manage and grow their business while generating crucial data and market insights for manufacturers and distributors.
GrowSari has grown from a base of 1,000 sari-sari stores in three cities in 2018 to more than 50,000 stores in over 100 municipalities across Luzon as of 2020. To read the full article, please visit https://mb.com.ph/2021/07/07/growsari-raises-30-m-from-marquee-investors-tencent-ifc-gokongwei-group/
GROWSARI, A B2B PLATFORM FOR SMALL STORES IN THE PHILIPPINES
June 17, 2021
According to GrowSari, there are more than 1.1 million sari-sari stores in the Philippines, and they account for 60% of fast-moving consumer goods (FMCG) sold in the country, making them a valuable distribution channel for wholesalers. In addition to its supplier marketplace, GrowSari says it is able to give sari-sari store operators better pricing for products from about a thousand FMCG brands, including Unilever, P&G and Nestle, which it claims can help stores double their earnings. Other services in the app include online telecom and utility bill payments, remittance and microfinancing for working capital loans.
To read the full article and find out more about Growsari's Series B round, please visit https://techcrunch.com/2021/06/21/growsari-a-b2b-platform-for-small-stores-in-the-philippines-adds-investors-like-temaseks-pavilion-capital-and-tencent/.
JG SUMMIT, JGDEV INVEST IN TYME
February 26, 2021
JG Summit Holdings and its corporate VC arm, JG Digital Equity Ventures (JGDEV), are taking part in the $110 million investment round of Tyme, together with private equity fund, Apis Growth Fund II, and South African investment holding company, African Rainbow Capital (ARC). Tyme, whose international management arm, TymeGlobal, is headquartered in Singapore, is considered as one of the world’s leading digital banking network for emerging markets.
With the move, JG Summit, through JGDEV, reinforces its foray into global Innovations and Fintech as part of its vision of becoming one of the biggest digital conglomerates in the country and in the ASEAN. With Tyme in its portfolio of investments, JGDEV brings to the JG Summit ecosystem a deeper understanding of the success of digital banking in developing economies such as South Africa, with the aim of replicating it in a similar setting such as the Philippines.
Read the full article here.
Photo credit: Tyme Global
WHAT DO INVESTORS LOOK FOR WHEN INVESTING IN STARTUPS?
October 22, 2020
EsquireMag.ph talks to JGDEV CEO, Jojo Malolos, to find out.
Among other things, business should not just be a matter of getting what you need from the client and moving on. The big picture should be to impact people beyond your primary customers and grow your network.
“The only way you can prove that you're really transforming digitally is if you have an economic impact on the landscapes by which you play,” said Malolos. “We harness our capability to achieve our objectives to have an impact on every Filipinos life. We are able to have an impact on our other shareholders, [which] creates an impetus for our employees to benefit from this type of system. We want to make sure that all of our customers also benefit from this by not only giving them what they asked for, but by giving them their daily needs or being able to create opportunities for them to put up their own businesses.” Read the full article in EsquireMag.ph.
JGDEV'S CEO, JOJO MALOLOS, PARTICIPATES IN ADB'S 1ST SOUTHEAST ASIA DEVELOPMENT SYMPOSIUM
October 19, 2020
ADB is organizing SEADS (Southeast Asia Development Symposium), the first of what will be an annual development policy symposium in Southeast Asia. The main goal of the symposium is "to help crystallize thinking on relevant and critical issues, and support countries in successfully making the transition to becoming high-income, knowledge-based, and, most importantly, sustainable economies," according to ADB's website. JGDEV CEO, Jojo Malolos, participates in a panel discussion entitled “The Digital Economy Revolution” Session, which takes place on 21 October from 1:30pm-3:00pm (Manila Time). Other panelists include Magnus Ekbom, Co-Founder and Chief Strategy Officer, Lazada Group and Deanna Morris, Programme Management Officer, United Nations ESCAP. The session will be moderated by Kelly Hattel, Senior Financial Sector Specialist, ADB. To find out on how to register to SEADS, please visit https://www.adb.org/news/events/southeast-asia-development-symposium-seads-2020
HOW LARGE COMPANIES EMBRACE INNOVATION
October 8, 2020
During PCCI's 46th Philippine Business Conference & Expo, JGDEV and DAVI CEO Jojo Malolos, participated in the panel discussion on "How Large Companies Embrace Innovation". Together with other corporate VCs namely, ACTive Fund and f(dev), the panel moderated by Jojo Flores looked into the vital role large companies play in creating the ecosystem for innovation to flourish. During the session, Malolos shared how innovation is prioritized within the Gokongwei Group and cited some examples on how the various units were able to adapt given the sudden behavior shifts during the pandemic.
JGDEV PARTICIPATES IN THE SINGAPORE X ASIA INNOVATION PARTNERSHIP FORUM 2020
September 29, 2020
The event is organized by KrASIA and Singapore's Economic Development Board (EDB) and hopes to facilitate open and robust discussions around the technology and innovation ecosystems in Southeast Asia. Sheinal Bhuralal, JGDEV Senior Portfolio Director, together with Xu Wei, Chief Risk Officer of VZoom Creditech, talked about Transforming Financial Industry with Credit Technologies and Risk Management. Several esteemed speakers across China and Southeast Asia such as Sea Group, Grab Financial, Monetary Authority of Singapore and more shared their thoughts on fintech. Watch the recorded session here. Catch Sheinal's session at 2:09:56 of the recording.
JGDEV INVESTS IN IPRICE GROUP
September 18, 2020
JGDEV's latest investment is ecommerce aggregator iPrice Group. Currently operating in Malaysia, Singapore, Indonesia, Thailand, the Philippines, Vietnam, and Hong Kong, iPrice has billions of product listings on its platform. “iPrice has a unique approach. It doesn’t aim to compete with other players, but instead, it enables these players to have more channels. As a result, it connects them to more consumers. iPrice enables consumer transactions to be deeper and wider through its comprehensive understanding of the digital economy,” JGDEV President and CEO Jojo Malolos is quoted from Deal Street Asia's article. Read the full article in this link.
JGDEV IS PART OF THE IF50 INVESTORS CIRCLE
September 14, 2020
IF50 or Inclusive Fintech 50 elevates promising early-stage fintechs that drive financial inclusion and resilience around the globe. It leverages a competitive process led by an independent judging panel of experts to identify 50 early-stage fintechs driving financial inclusion and resilience. Special focus on fintechs in advanced or emerging markets that offer a solution among credit, insurance, payments & remittances, savings & personal financial management, or infrastructure addressing special challenges of underserved customer segments. IF50 helps these startups become more visible to investors and partners who can help them reach more of the 3 billion financially-underserved population. For more information about the IF50 program, visit this link.
JOJO MALOLOS LEADS JG SUMMIT’S CHARGE INTO THE DIGITAL REALM
August 21, 2020
Get to know Elmer "Jojo" Malolos, the president and CEO of JGDEV, the Gokongwei Group's corporate venture investment arm focusing on Southeast Asia, and also the president and CEO of Data Analytics Ventures, Inc., the conglomerate's data analytics company which also aims to incubate and launch new and relevant digital businesses that will enhance the lives of the Filipino consumer. Read the full article in this link.