NextPay was looking to expand its offerings to include crypto services.
NEXTPAY — The financial technology startup was looking to expand its offerings to include cryptocurrency services in a bid to sustain growth after recording PHP 1-billion worth of transactions last year.
NextPay Chief Experience Officer and Co-Founder Aldrich Tan said that the fintech company was optimistic for this year as it explored several key initiatives to drive growth moving forward.
In an emailed statement obtained by GMA News Online, Tan said that they aimed to introduce more flexible disbursement options, as well as to explore high-growth areas of trade financing, cryptocurrency services, and corporate cards.
The fintech company breached the PHP 1-billion mark in terms of transactions volume and raised some USD 1.9 million in 2021, nearly doubling its USD 1-million investment target for the year.
The investment includes pre-seed backing from Y Combinator, which had also backed local companies PayMongo, Kalibrr, Dashlabs.ai, and Avion School.
Investors also include the Su family’s private investment vehicle Gentree Fund and Singaporean venture capitalist Golden Gate.
“We expect to persist on a growth path this 2022, as we continue to introduce more innovative financial services that empower growing businesses with big banking solutions,” Chief Executive Officer and Co-Founder Don Pansacola said.
Pansacola also said that they will continue to innovate this year and will introduce more digital financial services to serve the ever-evolving needs of their customers.
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The fintech company said that it planned to launch fundraising activities within the first half of the year, but didn’t elaborate on what types of financing it was looking to tap.
Launched in 2020, NextPay provided democratized access to financial services such as cash management, digital invoicing, and batch payments to e-wallets and local banks.
The fintech company rolled out its reusable payment links service in 2021, enabling companies to collect customer payments through a link that allowed payment settlement via several methods.
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