Higala, a startup based in Manila, Philippines, has recently secured an undisclosed amount of Seed funding to support its inclusive instant payment system (IIPS). The funding round was backed by Talino Venture Studios and Chemonics International.
The company, led by President and CEO Vice Catudio, aims to use the funds to expand its operations and further develop its technology. Higala’s mission is to promote inclusion by reducing the cost of real-time payments, enabling financial institutions to offer instant payments at a reasonable price. Additionally, the startup seeks to provide inclusive financial solutions to the underbanked population and help merchants quickly adopt digital payment options. Higala is also focused on building core instant payment technology that can be utilized by financial institutions of all sizes, transforming traditional banks into digital banks through white-label app services.
Among Higala’s partners and collaborators are BSP, the Rizal Commercial Banking Corporation, Xendit, FinTech Alliance.Ph, and the Rural Bankers Association of the Philippines.
In a statement, Vice Cataudio emphasized, “Higala will help modernize our country’s digital financial infrastructure and facilitate the participation of financial institutions. Our goal is to make banking more inclusive, especially for underserved populations with limited access to traditional banking services.”
With this recent funding injection, Higala is well-positioned to continue its efforts in driving financial inclusion and innovation in the Philippines.
Date: 29/04/2024
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