Philippines Fintech Startup SquidPay raises $2 million in Series A funding round

SquidPay is working with the Baguio City government to build a cashless society.


Carl Adrian

15 Dec, 2020

Philippines Fintech Startup SquidPay raises $2 million in Series A funding round | BEAMSTART News

- From our Sponsors -

Philippines Fintech Startup, SquidPay, has recently raised $2 million in a Series A funding round, valuing the company north of $22 million.

The company also signed a PHP100 million ($2 million) line of credit arranged by the Eastern Securities Development Corporation (ESDC).

SquidPay contactless payments.

Launched in May 2020, SquidPay's vision is to build a cashless society grounded on a free payment platform.

The company provides contactless payment solutions such as payment terminals and prepaid debit cards, which are currently used by merchants, transport groups, commuters, and more.

With the government’s initiative to convert Baguio City into the country’s first Smart City, SquidPay is working with the city government to convert up to 50% of the residents to use their contactless payment solutions by year-end, using their SquidCard to make payments for products and services across the city.

Baguio City, Philippines

Moving forward, SquidPay intends to utilize the new funding to scale across the country, establishing kiosks and business centres in key locations by 2021.

CEO of SquidPay, Marvin Dela Cruz adds that he was surprised of the interest in their services, and did not expect funding to come this soon.

“This news surprised us too. We did not expect any funding to come until the late first quarter of next year. This gives us confidence that there are people who strongly believe in what SquidPay can achieve,” mentioned SquidPay Technology Inc. CEO Marvin Dela Cruz.

- From our Sponsors -

Latest Jobs

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).