Advertisement

VENTENY raises US$2.3M Series A funding round led by SoftBank Investment

VENTENY raises US$2.3M Series A funding round led by SBI Investment

VENTENY plans to use the new funding to accelerate platform development and strengthen group structure

Philippines-based human resource and fintech startup VENTENY announced today that it has raised a US$2.3 million in Series A funding round led by Japanese venture capital (VC) firm SoftBank Investment.

Tokyo-based VC firm SV-FINTECH Fund, fintech industry players Mamoru Taniya and Makoto Takana, as well as an unnamed Singapore-based independent firm also participated in the current round.

VENTENY plans to use the new funding to accelerate platform development and strengthen group structure.

In an email to e27, though he declined to share further details of the company’s plan, VENTENY founder Junichiro Waide stressed on plans to expand to other markets in Southeast Asia.

“… Philippines is our pilot market and we see the similarities in the environment for employees across the whole Southeast Asia. With this, we will be accelerate the pace of our initial studies of each market and also will talk and look for the future partner(s) there for VENTENY’s own good and theirs,” he wrote.

The startup has briefly mentioned its regional expansion plan when it raised an undisclosed seed funding round led by Singapore-based VC firm KK Fund in February.

Also Read: Junichiro Waide’s brilliant vision for a better working environment at Venteny

It is also planning to add more key features on its platform based on feedbacks from users.

With a headquarter in Singapore, VENTENY currently focusses on the Philippines as its pilot market.

Launched in 2015, the platform is in form of a mobile and desktop app that enables employees to receive perks such as discounts at restaurants, fitness centers, and resorts & hotels.

It also offers web-based short-term loan services for employees to secure emergency cash.

According to the startup, the end goal of providing these perks is to enhance company loyalty and provide better options for employees without the high financial costs usually associated with these types of service.

It claimed to have secured a community of “more than” 80,000 registered employees in the Philippines, and is doubling in size annually.

The post VENTENY raises US$2.3M Series A funding round led by SoftBank Investment appeared first on e27.