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PH's biz tycoons pitch in for fintech startup's $1.6M funding


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Metro Manila (CNN Philippines, July 29) Filipino billionaires have backed homegrown financial technology startup NextPay in its $1.6-million (₱80.7 million) investment round.
The Sy Family, which runs SM Investments Corp., led the oversubscribed seed financing round through its private investment vehicle Gentree Fund, together with Singapore-based venture capitalist Golden Gate Ventures.
Local investors, including Ayala Group s Kickstart Ventures and Lisa Gokongwei of JG Summit, also participated in the financing round.
Other investors were Tribe Capital, Broadhaven Ventures, 1982 Ventures, Saison Capital, and Razorpay, Rohit Mulani of GoTrade, and Abhinay Peddisetty, and Chinmay Chauhan of BukuWarung.
Goodwater Capital which has invested in Facebook, Spotify, and Twitter also supported the funding exercise. ....

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