Philippines's startup AQWIRE raises $2.1m in Series A round led by Spiral Ventures

The company has been profitable with over $1.7 million in revenue.

Alfred Lee

27 Nov, 2020

Philippines's startup AQWIRE raises $2.1m in Series A round led by Spiral Ventures | BEAMSTART News

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AQWIRE, a property and fintech startup from the Philippines, has raised $2.1 million in a Series A funding round.

The round was led by Japanese venture capital firm, Spiral Ventures, alongside Gentree, Vulpes, Betatron Venture Group, and Steve Melhuish, one of PropertyGuru's co-founders.

AQWIRE's platform.

Co-founded by Jesse Manalansan and Earvin Ang in 2018, AQWIRE was established to help developers and brokers access foreign property investors, including over 12 million Filipinos living overseas.

The platform provides services such as property listings, mortgage loans, property management, and payments processing (including subscriptions). The company also takes a cut off loans referrals. 

Some of its clients include Ayala Land, Megaworld, Vista Land, and Century Properties.

“Developers have difficulty accessing foreign buyers’ markets. Even if they do, cross-border property management and loan processing are still difficult,” AQWIRE CEO Ray Refundo mentioned.
The AQWIRE team.

Moving forward, AQWIRE will use the fresh funds to improve their product and expand their sales teams.

According to Refundo, The company has been profitable since 2019, generating US$1.7 million in revenue.

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