BayaniPay, a global payments solution platform, has secured $6.6 million in additional seed funding from current investors, paving the way for its aggressive expansion across the globe.
BayaniPay CEO Winston Damarillo said in a statement that the additional funds would not only boost their expansion plans but also enable the powerhouse cross-border financial technology company to achieve its P1-billion transaction value target for this year.
Damarillo attributed the three-fold growth in transaction value to the strong demand for cross-border payment solutions, including remittances, as well as bills payments. The Buena Mano Rate program is applicable up to $500 of every first remittance or first remittance in six months. “We aim to sustain this momentum and explore new territories. Our commitment toward improving and growing our platform is driven by the desire to make the lives of Filipinos easier, wherever they may be found,” Damarillo said.
“Not only has BayaniPay created intuitive solutions to make Filipinos’ payment journey a simple and cost-effective exercise, Launched in early 2022, BayaniPay has envisioned to use technology to break down the borders in banking and level the playing field for all global professionals. Being a neobank or a fintech company, BayaniPay offers digital-first financial services in partnership with traditional banks. Because neobanks do not operate out of brick-and-mortar branches, they are able to save on costs and provide more affordable services to their customers.
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BayaniPay onboards more overseasBayaniPay, a global payments solution platform, has secured $6.6 million in additional seed funding from current investors, paving the way for its aggressive expansion across the globe.
Read more »