NEWS & RESOURCES

DARWINBOX DISRUPTS GLOBAL HR TECH SPACE WITH TOP RANKING IN GARTNER'S CUSTOMER SURVEY

September 13, 2022

Darwinbox secured a score of 4.7 out of 5, the highest rating on Gartner Peer Insights, ahead of established vendors such as Oracle, SAP, and Workday. The report notes that 96% of customers recommend the Darwinbox experience to their peers, the highest among all global HR technology solutions.    

Gartner Peer Insights is a customer review and rating platform for enterprise software and services decision makers. Reviews go through a strict validation and moderation process to ensure authenticity.

Read full article here.

ETAILY MAKES IT TO FORBES ASIA 100 TO WATCH IN 2022

August 29, 2022

etaily has landed in Forbes Asia’s “100 to Watch” list in 2022 out of the 650 small companies and startups evaluated by the magazine.

Etaily aims to digitalize retail in Southeast Asia by helping stores embrace e-commerce. Its smart services for shops include tech support, operations, branding and data management. 

To check out Forbes' complete list, read here.

TYMEBANK ANNOUNCES RETAIL CAPITAL BUYOUT

August 3, 2022

TymeBank has reached an agreement with Retail Capital and its shareholders to acquire 100% of the fintech SME funder’s shares, subject to regulatory approval.

TymeBank CEO Coen Jonker said the acquisition will see Retail Capital become a division of TymeBank and the foundation of the bank’s expanded business banking offering.

Jonker believes the intended acquisition is an important step in addressing the gap in the digital-only bank’s proposition to customers. This gap, he noted, is providing businesses with working capital solutions and the ability to buy the stock and resources they need to keep growing and developing their business. “This is where Retail Capital fills that gap for us uniquely.”


Read full article here.

ETAILY TAPPED AS PH TIKTOK SHOP ENABLER

July 18, 2022

etaily entered into a partnership with the TikTok Shop to capitalize and build its brand partners’ presence through this channel, delivering end-to-end e-commerce solutions including community management, video production, live streaming, collaborations with content creators, store management, and warehousing and fulfillment.

According to etaily co-founder and CEO Alexander Friedhoff: “We progressively find ways to advance our brands’ awareness and turn discovery into purchases – now with TikTok’s new feature. There is a lot of untapped potential in this new era of shopping online. We are constantly promoting increased online retail visibility and growth for our brand partners, guiding them through all available e-commerce platforms.”

Read full article here.

JG DIGITAL EQUITY VENTURES INVESTS IN COMMUNITY GROCERY STARTUP SARISUKI

July 5, 2022

JG Digital Equity Ventures (JGDEV), the corporate venture capital arm of JG Summit Holdings, is supporting the development of the country’s e-commerce sector by participating in the latest funding round for SariSuki, an online community selling platform co-founded and led by Brian Cu, the former president of Grab Philippines.

SariSuki aims to uplift communities throughout the Philippines by providing an online platform where citizens can create earning opportunities for themselves. “SariSuki offers Filipinos value grocery products at extremely affordable prices that meet their daily needs. We are also empowering community leaders to be strong microentrepreneurs that will help propel the country’s economic growth from the grassroots level,” said Cu in a statement.


While the Philippines’ e-commerce market has the potential to reach $15 billion in gross merchandise value by 2025, the adoption of e-commerce in the grocery and retail industry remains low, with under 3% of businesses in the sector being online.

Supportive of SariSuki’s advocacy to break down the barriers preventing greater e-commerce adoption in the country, JGDEV alongside other local and foreign investors including Openspace Ventures, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, and Foxmont Capital Partners helped raise US$7.1 million in the latest funding round for the startup, bringing its total fund raised to US$10.7 million as of March 2022.

With the infusion of new funds, SariSuki aims to expand its product assortment and operations to reach more Filipino consumers. According to JGDEV President and CEO Jojo Malolos, “We believe in SariSuki’s potential to drive e-commerce adoption in the country, particularly in areas underserved by traditional players. SariSuki’s business model empowers everyday Filipinos to become Community Leaders and helps uplift local farmers, all while delivering high quality, affordable groceries to consumers.

The idea behind SariSuki came a few months after the pandemic broke out in 2020, when Cu’s wife Kate began selling fresh fruit and vegetables to fellow residents in their community through a social media app. By consolidating her customers’ orders, she was able to order produce from suppliers in bulk and, in turn, passed on the discounts to her buyers.

SariSuki’s founders later discovered that this type of business model was taking off all over the country, where community sellers provided for the needs of their neighbors. The team, which includes CEO Cu, COO Philippe Lorenzo, Chief Commercial Officer Manuel Mejia, and Head of Strategy and Fundraising Angelo Lee, also learned that community group buying has long been a common practice in China and Indonesia.

Since its launch in May 2021, SariSuki has grown 36 times in terms of gross merchandise value in the past nine months. Starting with the selling of fruits and vegetables sourced directly from local farmers, SariSuki has since partnered with companies such as Universal Robina Corporation, P&G, NutriAsia, Unilever, Mondelez, Nestle, and Bounty Farms to better serve its customers. The business has now served more than 60,000 consumers through its growing number of community leaders called “KaSari.” The company’s operations currently extend across the Greater Metro Manila Area, Bulacan, Cavite, Laguna, and some parts of Rizal and Pampanga.

“SariSuki’s increasing sector dominance has resulted from addressing key pain points and barriers to e-commerce adoption with a model that builds confidence amongst, and value for, consumers. We recognized that the trust that those communities are putting in their Community Leader, who consistently delivers high-quality local produce, will help to rapidly accelerate vital e-commerce adoption” said Hian Goh, co-founder of Openspace.

“We are honored to back a stellar team bringing convenience and a world-class customer experience to groceries shopping in the Philippines. In our view, the high density, growing disposable income, maturing digital connectivity and sheer population size in key urban areas in the Philippines, finally set the stage for the next cohort of large consumer-facing tech businesses in the country,” said Tito Costa, partner at Global Founders Capital.

Foxmont Capital Partners Director of Portfolio Management Nico Sibal added, “We strongly believe in the digitalization of the Philippines, and especially how SariSuki provides a wide-ranging platform that allows many communities new and meaningful access to that future. They have found a uniquely Filipino way to empower the local community at scale, both as buyers and sellers. SariSuki has a dynamic, experienced set of founders and a leading organization that can deliver on the promise of the next generation of e-commerce in the country.”

For more information on SariSuki, visit https://sarisuki.com

GOTYME BANK AIMS TO BRING DIGITAL BANKING TO MORE FILIPINOS

June 14, 2022

Companies under the Gokongwei Group, namely JG Summit Holdings’ business units Robinsons Bank and Robinsons Land Corporation, and Robinsons Retail Holdings, Inc. ,have invested and collaborated with Singapore-based digital banking group Tyme to create GoTyme Bank, which offers financial solutions and products.

GoTyme also aims to provide rewards for purchases, priority access to sales, and promos. This will also include investment products.  GoTyme Bank will launch in Q3 this year.

Read full article here.

FILIPINO B2B STARTUP RAMPS UP SARI-SARI STORES TRANSFORMATION

June 10, 2022

Filipino B2B startup Growsari said it will use the $77.5 million from its recent Series C round of fund raising to accelerate its plans to transform the country’s small physical retail stores, such as sari-sari stores, carinderias, eateries, pharmacies, and other roadside shops into comprehensive service hubs of their communities.


Growsari CEO and co-founder Reymund ‘ER’ Rollan said they are set to triple the number of store partners that will benefit from using their platform within two years, with an estimate of 300,000 store partners by 2023.

Growsari’s expansion in Visayas and Mindanao include key cities such as Iloilo, Bacolod, Cebu, Davao, and General Santos. Growsari is now present in 20 key cities and 400 municipalities nationwide.

Read full article here.

TYMEBANK TO LAUNCH IN THE PHILIPPINES IN OCTOBER

June 10, 2022

TymeBank's largest shareholder African Rainbow Capital (ARC) says the bank will launch GOtyme in the Philippines in October 2022.   It also said that TymeBank continues to add 130 000 new customers a month, and at that rate it's closer to reaching 5 million clients.

Read full article here.

GROWSARI RAISES P4B FROM SERIES C FUNDING

June 9, 2022

Business-to-business startup Growsari said Thursday it plans to triple the number of store partners after raising P4 billion from a Series C round of funding, or capital raising activity.

Growsari co-founder and chief executive Reymund Rollan said the expansion is part of the plans to accelerate the transformation of small physical retail stores, such as sari-sari stores, carinderias, eateries, pharmacies and other roadside shops into comprehensive service hubs.


“We are proud to share that we are on track in fulfilling our mission of creating a positive socio-economic impact to the lives of more MSME owners and the communities they serve nationwide,” he said. 


The platform aims to grow the number of store partners to 300,000 by 2023. Growsari’s expansion in Visayas and Mindanao include key cities such as Iloilo, Bacolod, Cebu, Davao, and General Santos. Growsari’s presence is now in 20 key cities and 400 municipalities nationwide.

Read full article here.

ETAILY GETS 'GREAT PLACE TO WORK' CERTIFICATION

May 25, 2022

SOUTHEAST Asian e-commerce enabler etaily recently has been recognized as a "Great Place to Work" for its commitment on building a safe and positive employee-first culture.

"On Certification Nation Day, we are proud to celebrate our amazing employees, our main driver of success and the most important asset of our company. It is truly an honor to be recognized as a Great Place to Work-certified company because it shows how much we value our people," said etaily Chief Executive Officer (CEO) Alexander Friedhoff.

He said etaily has been at the forefront of transforming e-commerce in Southeast Asia, and they could not have done this without their amazing team that truly embodies their values of "One Team, Customer Obsession, Dive Deep, Ownership, and Invent and Simplify."  Read full article here.

LEADERSHIP CHANGES AT TYMEBANK AS IT NEARS 5M CUSTOMERS

May 24, 2022

Tyme Group has appointed co-founder Coen Jonker as new CEO of digital-only bank TymeBank, while current CEO Tauriq Keraan will be group executive: growth projects for Tyme Group.   Keraan will be responsible for leading the group’s establishment in new territories, as part of Tyme Group’s geographic diversification strategy.

The new announcement comes amid a series of leadership changes, as the digital contender embarks on the next chapter of its growth strategy.   Other appointments are: David Pfaff, Tyme Group’s current CFO, will take over from Jonker as Tyme Group CEO, and Cheslyn Jacobs, who is currently responsible for TymeBank’s sales and service function, will be appointed chief commercial officer, accountable for revenue generation.

The new appointments come after TymeBank’s rapid growth in SA, with the bank racking up almost five million customers, and having rolled out a slew of services since inception. Read full article here.

SOCIAL COMMERCE STARTUP SARISUKI: ENRICHING THE LIVES OF FILIPINOS, ONE COMMUNITY AT A TIME

May 17, 2022

SariSuki is the largest social commerce startup in the Philippines. It provides income opportunities for community leaders, gives consumers access to fresh groceries and everyday needs at rates lower than supermarket prices, and also supports local farmers and producers. Through SariSuki’s platform, Ka-Sari Community Leaders serve as grocery dealers, who consolidate and fulfill the orders of their customers, known as Ka-Suki.

The idea for SariSuki came after the pandemic broke out in 2020, when the wife of its CEO and co-founder, Brian Cu, began selling fresh fruits and vegetables to members of her community. She would order the produce in bulk, and was then able to sell these products to her buyers at discounted prices. SariSuki’s founders later discovered that many other sellers around the country were engaging in this behavior of community group buying, and when they dug deeper, they learned that this was an actual business model in countries like China and Indonesia.

Believing that technology should be used for the good, Brian and the team developed the SariSuki app, which would eventually enable countless Ka-Sari Community Leaders to earn extra income through online selling, and allow Ka-Suki customers to safely and conveniently purchase their daily needs at affordable prices, without having to leave home.

SariSuki Co-Founder and CEO Brian Cu said, “SariSuki is a game changer in the Philippine social commerce industry as it uplifts and empowers Filipino communities to recover from the global pandemic by supporting each other. Thousands of our Ka-Sari Community Leaders are micro-entrepreneurs that are now able to support their families while they offer safe, convenient, and extremely affordable fresh produce and grocery products to their next-door neighbors. We also consistently and directly source the fresh produce from local farmers to support our domestic agricultural industry.”

Join SariSuki as a Ka-Sari Community Leader

To become a Ka-Sari Community Leader, you simply need to download the SariSuki app from Google Play or the Apple App Store, then register for your own virtual store. Successful Community Leaders have the potential to earn anywhere from Php 30,000 to Php 50,000 every month.

Starting your own online grocery on SariSuki requires no capital, and no joining fee, and you can easily set up shop in an instant. SariSuki will take care of delivering products to your area in

bulk, so you can focus on catering to the needs of your local community. Selling on SariSuki is easy because the products listed on the platform comprises daily necessities like fruits and vegetables, rice, eggs, meat, and other standard supermaket products. SariSuki’s offerings are both high-quality and extremely affordable, too.

Shop on SariSuki Today

Visit SariSuki.com to find a Ka-Suki near you, and begin purchasing supermarket-quality goods at wet market prices. Order anytime, and from anywhere, with no minimum spend required. SariSuki sources fresh produce from local farmers, and with every purchase made, shoppers are able to support and help these farmers with their livelihood. Along with fresh produce, SariSuki carries a wide variety products from top local brands, too, so you can do all your grocery shopping in just one place.

To learn more about SariSuki, go to SariSuki.com.

IPRICE GROUP RAISES $5M FROM JAPANESE CONGLOMERATES ITOCHU CORPORATION AND KDDI CORPORATION

Mar 22, 2022

iPrice Group, Southeast Asia's leading price comparison platform helping online shoppers save money, announced that it has raised $5 million of additional funding.  The capital was raised from Japan-based firms Itochu Corporation and the KDDI Open Innovation Fund III (operated by Global Brain Corporation).

The additional funding will bolster iPrice's role in finding shoppers the best deals as Southeast Asia's e-commerce market becomes increasingly difficult to navigate.  

To read the full article, click here.

EX-GRAB PHILIPPINES PRESIDENT RAISES US$10.7M FROM REGIONAL AND GLOBAL INVESTORS TO EXPAND SARISUKI’S COVERAGE AND PRODUCT PORTFOLIO

Mar 3, 2022

SariSuki, the Philippines’ rapidly growing start up in the e-commerce grocery sector, is strengthening its leading position in the social commerce segment by breaking down the barriers to e-commerce adoption.

SariSuki is backed by significant fundraising that counts Openspace, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital Equity Ventures, and Foxmont Capital Partners among those who participated. The latest US$7.1 million round took total funding for the company to US$10.7 million in 2021. With the new funds, SariSuki aims to deepen the breadth and depth of its operations to serve more Filipino consumers.

SariSuki was founded by an impressive team emerging from within Southeast Asia’s scale-up tech giants led by Brian Cu, co-founder of Zalora Philippines and Grab Philippines, where he was country head for 7 years.

Introduced in May 2021, SariSuki grew 36 times in terms of gross merchandise value (GMV) in the past 9 months. The business has now served more than 60,000 consumers through its growing number of community leaders called KaSari. SariSuki operations extend across Greater Metro Manila Area, Bulacan, Cavite, Laguna, and some parts of both Rizal and Pampanga.

SariSuki adopts a Community Group Buy model. Members of communities who set up their business as a Community Leader or KaSari, are able to earn a healthy profit from directly selling produce and goods whilst performing the last mile fulfillment. This model has enabled SariSuki to offer supermarket quality products at wet market prices. SariSuki acts as a consolidator of grocery items for their KaSari who in turn own virtual “sari-sari stores” that sell the goods to consumers.

While the Philippines’ e-commerce potential market size is estimated to reach $15 billion by 2025 (Statista), the adoption of e-commerce into grocery and retail industry remains at less than 3-percent of businesses being online. With the pandemic further exposing these issues, SariSuki started in 2021 with a mission to empower the community by buying fresh produce in bulk from local farmers and offering them to the local community at a discounted price.

Those interested to earn and be a KaSari Community Leader may sign up by downloading the SariSuki application from the App Store and Google Play.

“We are a set of founders that grew up in the Philippines and have an understanding of our market. This combined with our background in scaling up large tech companies in the region

made us realize we can do more by increasing efficiencies in our supply chain infrastructure. SariSuki offers Filipinos value grocery products at extremely affordable prices that meet their daily needs. We are also empowering community leaders to be strong microentrepreneurs that will help propel the country’s economic growth from the grassroots level ” said Cu.

“SariSuki’s increasing sector dominance has resulted from addressing key pain points and barriers to e-commerce adoption with a model that builds confidence amongst, and value for, consumers. We recognised that the trust that those communities are putting in their Community Leader, who consistently delivers high-quality local produce, will help to rapidly accelerate vital e-commerce adoption” said Hian Goh, co-founder of Openspace.

“We were always deeply impressed with the team at SariSuki, and believe the depth of talent they now have at all levels of the business will be key as they continue to grow, expand and consolidate their early leadership position,” said Gervin Yang, Executive Director at Openspace.

“We are honored to back a stellar team bringing convenience and a world-class customer experience to groceries shopping in the Philippines. In our view, the high density, growing disposable income, maturing digital connectivity and sheer population size in key urban areas in the Philippines, finally set the stage for the next cohort of large consumer-facing tech businesses in the country.” concluded Tito Costa, Partner at Global Founders Capital.

Foxmont Capital Partners Director of Portfolio Management Nico Sibal added, “We strongly believe in the digitalization of the Philippines, and especially how Sarisuki provides a wide-ranging platform that allows many communities new and meaningful access to that future. They have found a uniquely Filipino way to empower the local community at scale, both as buyers and sellers. Sarisuki has a dynamic, experienced set of founders and a leading organization that can deliver on the promise of the next generation of e-commerce in the country.”

SAAS STARTUP DARWINBOX TURNS UNICORN AFTER RAISING USD72MN

Jan 26, 2022

The latest round of funding was led by Technology Crossover Ventures (TCV) along with participation from existing investors Salesforce Ventures, Sequoia, Lightspeed, SCB 10X, JG Digital Equity Ventures (JGDEV), Endiya Partners and 3One4Capital.

Founded in late 2015, Darwinbox’s cloud based human capital management platform caters to human resources needs across the entire employee lifecycle. Its new product is powering digital HR for more than 1.5 million employees from 650 enterprises across the globe.

The new funding will be used for the company’s global expansion plan by allowing it to accelerate its platform innovation, strengthen its product, engineering and customer success teams along with scaling their go-to-market presence in multiple geographies. The company is set to triple its team within a year aiming to add more than 100 employees in southeast Asia across its Manila, Singapore and Jakarta offices.

To read the full article, click here.

KKR LEADS SERIES C ROUND IN PHILIPPINE B2B PLATFORM GROWSARI WITH US$45 MILLION INVESTMENT

Jan 26, 2022

KKR’s investment in GrowSari will support the Company’s expansion into more regions across the Philippines and strengthen its financial services capabilities.  

Founded in 2016, GrowSari is a leading tech-enabled B2B platform that helps the Philippines’ small physical retail stores, including neighborhood retail shops (sari-sari stores), roadside and market shops (carinderia), and pharmacies, enhance their service levels and access a wider range of products and value-adding services. This allows the stores to provide local communities with more comprehensive offerings, including digital services.

Today, GrowSari is present in 220 municipalities across the regions of Luzon and offers over a hundred types of different services including making bill payments, telco reloads, and wallet top-ups, as well as procurement services for common retail goods and pharmaceutical medicines.

To read the full article, click here.

ECOMMERCE ENABLER ETAILY BANKS $4.3M IN SEED EXTENSION

Jan 26, 2022

Philippine-based ecommerce enabler Etaily has added US$4.3 million in seed funding in an extension round led by JG Digital Equity Ventures, the investment arm of local conglomerate Gokongwei Group.

Etaily, which was founded by CEO Alex Friedhoff in 2020, addresses the ecommerce needs of brands by providing content production, channel creation, and warehousing and fulfillment services. Some of its clients include Landmark, Toshiba, and Terranova.

The fresh funds will go toward its regional expansion efforts and the development of solutions such as offline-to-online cloud software for sales integration.

To read the full article, click here.

EUROMONITOR CITES MANILA-BASED E-COMMERCE ENABLER ETAILY AS GLOBAL MEGATREND FIRM

December 31, 2021

Euromonitor’s recent Megatrends Report has recognized Manila-based ecommerce enabler Etaily as among the Philippine companies that are shaping the top eight global Megatrends that indicate major shifts in consumer values and behavior.

The 2021 edition of the Euromonitor Megatrends Report cited in Etaily as a solutions provider that is uniquely positioned to help Filipino retailers achieve their full digital potential even – or especially – during the pandemic. 

“Etaily’s expansion is expected to drive the growth and development of e-Commerce among local businesses, giving them the chance to create an omnichannel experience and expand their customer base in the face of growing competition from international e-commerce giants,” read the report.

To read the full story, click here.

DIGITAL BANK TYMEBANK REACHES 4 MILLION CUSTOMER MILESTONE WITHIN 32 MONTHS

November 5, 2021

Tyme users reached the 4 million milestone within about 32 months.  “We’ve expanded our offering and enhanced product functionality to ensure we can give customers everything they need in a single banking account, while empowering them to pay nothing – or next to nothing – on banking fees, depending on their banking behaviour," TymeBank chief executive Tauriq Keraan said. 

TymeBank’s partnership model with two retailers, Pick n Pay and Boxer, has been an integral part of its strategy to acquire customers and drive usage and had significantly contributed to the bank’s success since its February 2019 launch.

To read the full story, visit https://www.iol.co.za/business-report/companies/digital-bank-tymebank-reaches-4-million-customer-milestone-within-32-months-b3073ede-5724-476d-bed9-0acbdea61501

DARWINBOX BECOMES THE YOUNGEST AND ONLY ASIAN PLAYER TO FEATURE ON GARTNER'S MAGIC QUADRANT FOR CLOUD HCM SUITES 2021

October 26, 2021

Darwinbox, a JGDEV Investee, is the youngest entrant to Gartner’s MQ since its inception in 2016 and is the only Asian origin player that sits on the Quadrant. Darwinbox assumes it position alongside major players such as like SAP, Oracle, and Workday.  

Darwinbox has more than 600 global enterprise customers such as JG Summit Group, Zalora, Zilingo and Tokopedia. Darwinbox retains its position as the best rated solution by customers in Gartner's Peer Insights with an average platform rating of 4.8.  To read the full article, please visit https://finance.yahoo.com/news/darwinbox-becomes-youngest-only-asian-054900575.html.

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.

SEVEN INDUSTRIES TO WATCH OUT FOR

January 15, 2025

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