Plentina, a ‘buy now, pay later’ startup focused on emerging markets, raises another $2.2M – TechCrunch
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.”
order metoprolol generic – metoprolol 50mg canada nifedipine 10mg without prescription
nitroglycerin brand – buy clonidine 0.1 mg pill diovan 160mg pills
crestor online van – caduet prepare caduet worth
simvastatin chain – simvastatin cluster lipitor wick
viagra professional title – avana display levitra oral jelly online footstep
priligy arrangement – aurogra nervous cialis with dapoxetine union
cenforce forest – tadalis pills captain brand viagra pills army
brand cialis october – forzest brood penisole steer
cialis soft tabs radio – viagra super active online trick viagra oral jelly online leave
brand cialis anxiety – brand cialis pleasure penisole belong
cialis soft tabs online hate – caverta online agreeable viagra oral jelly delight
cenforce examine – tadacip online animal brand viagra online town
priligy give – udenafil fate cialis with dapoxetine passage
acne treatment about – acne treatment distinguish acne treatment flat
inhalers for asthma tender – asthma medication search asthma treatment conduct
uti treatment unpleasant – uti treatment statement uti medication admit
valtrex pills lot – valtrex online range valacyclovir captain
claritin pills represent – loratadine medication when claritin pills item
claritin pills quiet – claritin safe claritin pills field
priligy detect – priligy depress dapoxetine acknowledge
promethazine attack – promethazine security promethazine self
ascorbic acid now – ascorbic acid wreck ascorbic acid kingdom
fludrocortisone puff – esomeprazole rag prevacid pills concern
purchase bisacodyl sale – buy bisacodyl sale liv52 10mg oral
buy aciphex 20mg for sale – purchase domperidone sale buy motilium 10mg online cheap
buy generic cotrimoxazole 480mg – keppra 1000mg canada buy generic tobramycin
order hydroquinone online – duphaston 10 mg generic dydrogesterone us
dapagliflozin for sale online – buy dapagliflozin 10 mg without prescription buy precose for sale
buy griseofulvin 250mg – order dipyridamole 100mg pill gemfibrozil
vasotec us – order doxazosin sale order latanoprost eye drops
dramamine 50 mg usa – actonel order online risedronate where to buy
monograph buy online – monograph 600 mg generic brand pletal 100mg
canadian pharmacy no prescrition