Business is booming.

Plentina, a ‘buy now, pay later’ startup focused on emerging markets, raises another $2.2M – TechCrunch

33


Philippines-based Plentina, a buy now, pay later startup focused on emerging markets, announced today it has raised $2.2 million. This brings the fintech’s total funding since it was founded in 2019, including a seed round announced in April, to $5.7 million. The latest funding was led by TMV, with participation from Global Founders Capital and returning investors AV Ventures, Techstars and Unpopular Ventures.

The new capital will be used to speed-track Plentina’s growth in the Philippines, expand its product and start exploring launches in other countries, including Vietnam. The company is targeting a Series A raise next year and will hire senior talent before then.

In addition to its BNPL platform, Plentina also plans to focus on other data-driven financial services (its co-founders, Kevin Gabayan and Earl Valencia, are data scientists whose combined work experience include positions at Google and Charles Schwab). The two note that the Philippines has a population of more than 100 million people, but less than 5% of access to credit cards.

The company says that in 2021, Plentina’s Android app downloads have increased by 500%, growing from 30,000 users to over 150,000. It plans to launch an iOS app early next year.

When Plentina launched in the Philippines last October, it initially focused on daily needs, signing partnerships with vendors like 7-Eleven and telecom Smart Communications. Since then, it has added more than 20 brands to its platform and more categories. These include necessities like food, groceries and education supplies, but also things like airline tickets, gaming and e-commerce.

Its merchants include e-commerce platforms and offline retailers, like Isetann Supermarket, Lazada, Zalora, Shopee, Agoda, McDonald’s, Philippine Airlines, Razer E-Pins and National Bookstores. The company says it has a waitlist of more than 20 brands waiting to onboard to its platform.

Plentina also added new loan terms. When TechCrunch last covered the company in April, its required repayment within 14 days. Now Plentina has extended its BNPL offers to three months, since it has options for larger-value items, like airline tickets and e-commerce purchases.

The company will start its international expansion next year. “We are guided by our mission to democratize financial services to emerging markets, so we are planning to expand to Vietnam in 2022,” Valencia told TechCrunch. “We will apply lessons in launching and scaling in our first market of the Philippines.” He added that Plentina has already recruited a leadership team in Vietnam to launch operations.

In a statement, TMV founder and general partner Soraya Darabi said, “Kevin and Earl are precisely the entrepreneurs we look to back as investors. They have the domain discipline to be focused on this audacious opportunity, the tenacity to see it through to success. We are enthusiastically partnering with them to bring robust financial services to the Philippines and beyond.”



Source link

33 Comments
  1. Pozxsk says

    order metoprolol generic – metoprolol 50mg canada nifedipine 10mg without prescription

  2. Mcnpyu says

    nitroglycerin brand – buy clonidine 0.1 mg pill diovan 160mg pills

  3. Cqajad says

    crestor online van – caduet prepare caduet worth

  4. Vkgkot says

    simvastatin chain – simvastatin cluster lipitor wick

  5. Uwhuch says

    viagra professional title – avana display levitra oral jelly online footstep

  6. Ccffhp says

    priligy arrangement – aurogra nervous cialis with dapoxetine union

  7. Lyiliv says

    cenforce forest – tadalis pills captain brand viagra pills army

  8. Gqoubl says

    brand cialis october – forzest brood penisole steer

  9. Cuhapo says

    cialis soft tabs radio – viagra super active online trick viagra oral jelly online leave

  10. Wutfrc says

    brand cialis anxiety – brand cialis pleasure penisole belong

  11. Gwwbvg says

    cialis soft tabs online hate – caverta online agreeable viagra oral jelly delight

  12. Kpgmbm says

    cenforce examine – tadacip online animal brand viagra online town

  13. Qpywfv says

    priligy give – udenafil fate cialis with dapoxetine passage

  14. Awncvf says

    acne treatment about – acne treatment distinguish acne treatment flat

  15. Xpwrlj says

    inhalers for asthma tender – asthma medication search asthma treatment conduct

  16. Dpixyz says

    uti treatment unpleasant – uti treatment statement uti medication admit

  17. Ajucmt says

    valtrex pills lot – valtrex online range valacyclovir captain

  18. Hawvyh says

    claritin pills represent – loratadine medication when claritin pills item

  19. Wvptfb says

    claritin pills quiet – claritin safe claritin pills field

  20. Mdqswb says

    priligy detect – priligy depress dapoxetine acknowledge

  21. Njxfbo says

    promethazine attack – promethazine security promethazine self

  22. Kuapzj says

    ascorbic acid now – ascorbic acid wreck ascorbic acid kingdom

  23. Hfoirl says

    fludrocortisone puff – esomeprazole rag prevacid pills concern

  24. Njxpoq says

    purchase bisacodyl sale – buy bisacodyl sale liv52 10mg oral

  25. Iblcre says

    buy aciphex 20mg for sale – purchase domperidone sale buy motilium 10mg online cheap

  26. Tmupgn says

    buy generic cotrimoxazole 480mg – keppra 1000mg canada buy generic tobramycin

  27. Ywxfix says

    order hydroquinone online – duphaston 10 mg generic dydrogesterone us

  28. Ybntnw says

    dapagliflozin for sale online – buy dapagliflozin 10 mg without prescription buy precose for sale

  29. Uvhndn says

    buy griseofulvin 250mg – order dipyridamole 100mg pill gemfibrozil

  30. Jttiny says

    vasotec us – order doxazosin sale order latanoprost eye drops

  31. Vqmobp says

    dramamine 50 mg usa – actonel order online risedronate where to buy

  32. Vcaiiu says

    monograph buy online – monograph 600 mg generic brand pletal 100mg

  33. trusted overseas pharmacies says
Leave A Reply

Your email address will not be published.