Close Menu
    Facebook X (Twitter) Instagram
    BusinessNews.phBusinessNews.ph
    Subscribe
    • Top Stories
    • Business
    • Events / Conventions
    • National
    • Technology
    BusinessNews.phBusinessNews.ph
    Home » Philippine Fintech Startup NextPay Gets $125,000 from Y Combinator
    Top Stories

    Philippine Fintech Startup NextPay Gets $125,000 from Y Combinator

    By Kharla MarasiganMarch 22, 2021Updated:June 9, 2021
    NextPay
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Homegrown fintech startup NextPay, an all-in-one digital banking solutions provider, has received a $125,000 backing from Silicon Valley-based startup accelerator Y Combinator to expand its services further and address the growing problem of financially-underserved businesses in the Philippines. 

    With this pre-seed investment, NextPay becomes one of the first five Filipino tech start-ups to be backed and selected by global powerhouse Y Combinator, together with Kalibrr (2013), PayMongo (2019), Avion School (2021), and Dashlabs.ai (2021).

    Y Combinator is popularly known as the launchpad of many iconic startups such as Airbnb, Dropbox, Stripe, and Twitch, among many others.

    NextPay puts the power of big banks in the hands of small businesses. The platform gives growing companies access to easy and affordable financial services such as digital invoicing, cash management, and batch payments to any bank or e-wallet in the Philippines.

    “Our goal is to empower smaller businesses with a spectrum of banking services that were previously unavailable to them because of the steep requirements and high fees that are typically aimed at larger, more developed companies that can afford them. This funding round from Y Combinator allows us to scale even faster to bring digital financial services closer to MSMEs,” NextPay Chief Executive Officer and Co-Founder Don Pansacola said. 

    Through the $125,000 investment from Y Combinator, the NextPay founders want to leverage their previous experience working in “unicorn” companies to expand their line of digital banking services. Their plans include new digital solutions for payments, credit, and personal cash management.

    NextPay
    NextPay’s Payslip

    “We plan to introduce more payment acceptance methods, virtual credit cards, and other digital solutions that enable businesses to manage their cash flow and alleviate the bottlenecks of the Philippine financial landscape. We will also partner with human resource and accounting software companies to further streamline the financial operations of a growing company,” Pansacola said. 

    Since its launch in 2020, NextPay has processed over USD $2.5 million (PHP 120 million) in digital transactions for more than 100 businesses—and is quickly growing. Customers of NextPay can enjoy reduced processing times from as much as 3 days to just 30 minutes. 

    NextPay is positioning to enable more businesses, entrepreneurs, and freelancers to centralize all their financial requirements through one easy-to-use, affordable, and inclusive platform. 

    “The opportunity to provide digital financial services to these market segments, which make up 99.5% of all businesses, and are the lifeblood of the Philippine economy, is huge. Through our platform, MSMEs can conduct their transactions seamlessly and allow business owners to free up resources and focus on their operations. This optimization and focus are vital in supporting and strengthening the country’s efforts towards economic recovery. ” NextPay Chief Experience Officer and Co-Founder Aldrich Tan said. 

    “NextPay wants to help the Philippines bounce back. We want to enable growing enterprises to maximize their capital, reach more customers, and generate more jobs and opportunities. This then stimulates economic transactions and creates demand for stronger partnerships. It’s a domino effect, but it starts from having a digital platform like NextPay who empowers MSMEs to thrive and do more,” Pansacola said. – BusinessNews.ph

    For the latest business and finance news in Asia - Business News Asia
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Small Businesses Embrace Social — But Could be Missing a Trick in the Age of AI

    July 7, 2025

    Kincora Secures Strategic North American Investors and Announces Private Placement

    July 7, 2025

    Progress towards potassium-ion batteries

    July 7, 2025
    Latest News

    Small Businesses Embrace Social — But Could be Missing a Trick in the Age of AI

    July 7, 2025

    Kincora Secures Strategic North American Investors and Announces Private Placement

    July 7, 2025

    15 World Toppers and Near-Perfect Scorers for GIIS Singapore in IBDP 2025 Exams

    July 7, 2025

    Progress towards potassium-ion batteries

    July 7, 2025

    Everest Medicines Unveils Breakthroughs in AI+mRNA Platform, Reinforces Global Leadership in Next-Gen mRNA Innovation

    July 4, 2025

    INVEST FAIR Malaysia 2025 Spotlights Investor Trends, Multi-Asset Literacy, and Tech-Driven Platforms

    July 4, 2025

    UOB Hong Kong becomes first Singapore-based bank to sign MOU with HKTDC

    July 3, 2025

    AI-Powered CX, Operational Efficiency, and Smarter Journeys Redefining Strategies Across UK Enterprises: Customer Experience Live Show UK 2025 Unveils Industry Priorities

    July 3, 2025

    Global Sports Brand U.S. Polo Assn. Launches in Brazil With Grupo Pasquini

    July 2, 2025

    TravelKon Launches Unlimited Europe eSIM Range to Keep Australians Connected over European Summer Getaway

    July 2, 2025

    Cybercrime Syndicates Target Philippine NFC Payments, Resecurity Warns

    July 2, 2025

    PH Real Estate Seen Growing 5% Annually on Back of Infrastructure Boom

    July 2, 2025

    The Future Is Now! The Philippines Leads the AI-Powered Cloud Revolution

    July 2, 2025

    GFEAI 2025 Concludes Successfully: PM Paetongtarn Backs Human-Centric AI, AIGPC Emerges as Regional AI Ethics Hub

    July 1, 2025

    JCB and Mandai Wildlife Group Deepen Partnership with exclusive discounts for JCB cardmembers

    July 1, 2025
    BusinessNews.ph
    • Home
    • Business News Asia
    • Cebu Lifestyle Channel
    • Property News
    • Events News Asia.com
    • Contact Us
    • Cebu Business News
    © 2025 All Rights Reserved | BusinessNews.ph

    Type above and press Enter to search. Press Esc to cancel.