In a significant stride forward, Pilon, the Singapore-based FinTech firm, has announced the securing of a top-up investment from Kaya Founders, a Philippines-based investor. This funding round sets the stage for Pilon’s ambitious growth plans and consolidates its position in the Philippine market.
This latest round of undisclosed funding follows a triumphant seed round, wherein Pilon garnered a whopping USD 5.2 million. The funds will fuel Pilon’s mission to revolutionize the local business landscape by enhancing operations in the Philippines and scaling its innovative supply chain financing solutions.
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Kaya Founders, an investment firm esteemed for its support of visionary entrepreneurs in the Philippines and Southeast Asia, places a strategic bet on Pilon. With a focus on digital firms capable of disrupting industries and transforming lives, Kaya Founders offers strategic counsel, resources, and mentorship to turbocharge growth.
Pilon’s Co-founder and CEO, Eddie Lee, shared his excitement about the successful funding round and the continued backing of Kaya Founders. He stated that the investment not only solidifies Pilon’s financial footing but also reaffirms their disruptive vision. The funds will be deployed to enrich Pilon’s digital product suite, broaden its reach in the Philippines and Cambodia, and venture into fresh territories like Vietnam, Thailand, and Indonesia.
To support its expansion, Pilon has assembled a dedicated Manila-based team to provide comprehensive assistance to partner companies. Pilon’s user-friendly features, such as live chat and introductory walkthroughs, promise a seamless experience for business owners, irrespective of their tech proficiency.
Kaya Founders’ partner, Lisa Gokongwei-Cheng, expressed faith in Pilon’s pioneering solutions, noting their potential to redefine transaction dynamics for individuals and businesses. With the fresh capital, Pilon is geared to boost its growth, widen its influence, and offer heightened convenience and efficiency to consumers and businesses.
Additionally, Pilon is making strides in integrating buyers from key industries in the Philippines, including Retail/Super Marts, Construction & Development, and the F&B sector. This strategic move is anticipated to reinforce Pilon’s market standing and promote synergistic alliances between buyers and suppliers.
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Since its 2020 inception, Pilon has consistently facilitated digital transformation for suppliers, corporate buyers, and financial institutions. It has pioneered in digitizing business processes and promoting financial inclusion through optimized invoice financing. Notably, Pilon’s system has found success with Robinsons Bank and Universal Robina, part of the Gokongwei family conglomerate, one of the Philippines’ largest.
Robinson Bank’s president, Elfren Antonio S. Sarte, lauded Pilon’s solution for its efficiency and effectiveness, heralding it as a significant step in their innovation journey. As Pilon gears up to collaborate with other business units within the group, the future seems bright for this game-changing FinTech firm.
This news is based on a report by IANS.
