Higala, a startup situated in Manila, Philippines, that offers an inclusive instant payment system (IIPS), has raised an unknown sum of seed money. Chemonics International and Talino Venture Studios provided funding.
The money will be used by the business to increase operations and development initiatives.
Under the direction of Vice Catudio, President and CEO, Higala encourages inclusivity by bringing down the cost of real-time payments, enabling financial institutions to charge for their quick payments in an affordable manner.
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It also seeks to quickly enable merchants to accept digital payments and to offer inclusive financial solutions to the underbanked. Additionally, it is developing core instant payment technology that can work with banks of all sizes and enable white label app services to transform banks into digital banks.
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The BSP, the Rural Bankers Association of the Philippines, Xendit, FinTech Alliance.Ph, and the Rizal Commercial Banking Corporation are some of Higala’s associates and partners
Commenting on the news, Vice Cataudio said “Higala will help modernize our country’s digital financial infrastructures and enable the participation of financial institutions through our network. Our goal is to make banking more inclusive, especially to the underserved segments of the population that have limited access to traditional banking services.”
About Higala
Higala, an open payments platform, more companies can join the financial services industry and provide consumers with better goods and services. Through cooperative relationships, the platform takes advantage of the financial might of prominent local banks and financial institutions in the industry.
