Entrepreneur magazine featured four Filipino startups that finance the country’s agriculture and finance technology sectors amidst funding issues.
The international business magazine’s January 2020 edition published “How Startup Challenges are Helping Fintech and Agri Sectors” written by Apol Tokwator, noting how these startups from the Philippines attracted investments through joining startup competitions.
The article describes how the startups struggled to earn capital big enough to launch their businesses and turned to pitching in startup contests to gain traction and support.
The Entrepreneur references the four Philippine startup companies that assist in the financial and agricultural sectors in the country which address certain issues in their respective sectors.
One big struggle Filipino farmers have is not having enough financial support for their admittedly small businesses. Cropital incentivizes this by growing funders’ finances as they assist these farmers through crowdfunding. They have helped 700 farmers in seven different provinces in the country, and they have nearly 3,000 accounts on their platform.
The Pinoy farming crowdfunder was picked Asian startup to watch in 2020.
With 77% of Filipinos still unbanked and those in the middle class, especially Overseas Filipino Workers, needing support, the FinTech platform Ayannah offers an accessible platform for financial services for these marginalized groups. They are especially renowned for their inexpensive remittance services for OFWs.
As startups struggled with gaining the capital to start off their business, Acudeen turned to assist other businesses, through purchases of discounted invoices, or bills, to enable companies to receive funding and capital faster.
Sustainability is a stickler for any business. ASENSO assists with this by providing microbusinesses, and, to that extent, farmers, the means to gain sustainability. They enable and incentivize this by giving microbusinesses a platform for their products, insurance, and capital.
Good news for startups – Google and IdeaSpace started a partnership to boost the Philippines’ startup industry.
More startup tips: Chinkee Tan gives 5 Signs That Will Tell You That Your Startup Is On The Right Track
SEND CHEERS in the comments below to Filipino startups for earning international business attention through Entrepreneur magazine!
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