Entrepreneur magazine spotlights Filipino startups in Agriculture, Finance technology

HSBC Philippines
Entrepreneur Magazine Filipino agriculture and technology
Startups help farmers and other marginalized sectors. Image of Bohol farmers funded through Cropital.

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.

1. CROPITAL

Cropital was chosen as Best Startup by Seedstars during the Wildfire Pitch Competition at Ignite 2019.

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.

2. AYANNAH

Ayannah receiving their funding for their startup.

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.

3. ACUDEEN

Acudeen first receiving funding through Seedstars contest

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.

4. ASENSO

Asenso, presented by Talino Venture Labs and CARD MRI.

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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Io Carpiso
Io is a high school student and amateur writer who tends to look at the future idealistically despite others' warnings. A book enthusiast, she wants to make her words substantial in this world and to lift up others with her work.