Higala, a Manila, Philippines-based startup providing an inclusive instant payment system (IIPS), raised an undisclosed amount in Seed funding.
Backers were Talino Venture Studios, and Chemonics International.
The company intends to use the funds to expand operations and development efforts.
Led by President and CEO Vice Catudio, Higala promotes inclusion by lowering the cost of real-time payments, which helps financial institutions to reasonably price their instant payments. It also aims to provide inclusive financial solutions to the underbanked as well as rapidly enable merchants to accept digital payments. It is also building core instant payment technology that can accommodate financial institutions of all sizes and turn banks into digital banks through white label app services.
Higala’s partners and collaborators include BSP, the Rizal Commercial Banking Corporation, Xendit, FinTech Alliance.Ph, and the Rural Bankers Association of the Philippines.
Commenting on the news, Vice Cataudio said: “Higala will help modernize our country’s digital financial infrastructures and enable the participation of financial institutions through our network. Our goal is to make banking more inclusive, especially to the underserved segments of the population that have limited access to traditional banking services.”
FinSMEs
29/04/2024