BayaniPay, Philippines-based payments automation firm, raised USD 3 million towards its USD 9.6 million Series A fundraising. Lead investors Wavemaker Partners, PTGB, and Talino Venture Studios provided the funding. This investment will help BayaniPay develop this year by improving worldwide payments.
It will use the fresh funding to expand its bill payment service to accept US and international payments. Bayani GlobalPay, a white-label custom payment platform and GlobalPay Express, an all-in-one payment portal, will be launched. Bayani helps enterprises and billing entities efficiently contact global customers with these solutions.
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Bayani GlobalPay will first work with Philippine real estate businesses SMDC, DMCI, and Landco to streamline payment management and monitoring with cheaper service fees and automation.
Bayani GlobalPay uses payment gateways and automation to create “seamless” domestic and international payment management and tracking. Debit and credit cards, e-wallets, direct debit, and QRPH allow payments and transfers without a bank account.
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Personal remittances totaling US$37.2 billion made up 8.5% of Philippine GDP in 2023, according to the Philippine Institute for Development Studies. BayaniPay makes cross-border direct payments seamless and cost-effective to boost their economic impact. This saves Filipinos abroad costs and boosts pesos per dollar.
About BayaniPay
The first neobank, BayaniPay, offers cutting-edge financial services designed for professionals who work internationally.
