Philippines cross-border billing startup Qwikwire to raise US$9M via ICO

Sainul Abudheen
Philippines cross-border billing startup Qwikwire raises funding from First Asia Venture Capital, Cerebro Labs

Qwikwire is also launching AQwire, a decentralised application built on top of the blockchain technology that enables property developers to sell their units to any customer in the world

Qwikwire Billing Systems, a Philippines-based cross-border billing and invoicing startup for enterprises, plans to launch an initial coin offering (ICO) to raise US$9 million.

The company will also launch AQwire, a decentralised application (DApp) built on top of the blockchain technology. AQwire will enable property developers to sell their units to any customer in the world.

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Qwikwire CEO Ray Refundo said: “We are growing and we are launching a fundraising drive via ICO to raise US9 million. With this, we are launching AQwire, the first blockchain-powered platform for property developers to list their properties to international buyers.”

The firm claims that this will be the first of its kind in the Philippines and one of the first ICOs in the country.

Qwikwire is a 500 Startups company that empowers enterprises to collect payments from anywhere in the world. The firm intends to reduce/eliminate reliance on intermediaries such as agents, brokers, and other marketing channels and connect customers/buyers directly to property developers. This will simplify the KYC (Know Your Customer) process and validate both property developers and buyers and secure transactions for both parties.

Also Read: Are ICOs a scam or a blessing upon the startup ecosystem?

To date, the company has raised more than US$700,000 in funding.

 

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