Finance technology start-up NextPay said it processed P3.2 billion in digital transactions in 2022, up by more than 200 percent from 2021.
The homegrown fintech firm served 3,800 growing businesses in the platform, with more than 32,000 employees and over 10,000 suppliers recorded.
“Our growth momentum has not only solidified our position in the market but has paved the way for a promising Series A funding round in the second half of 2023, indicating a bright future ahead for NextPay,” said NextPay co-founder and chief executive Don Pansacola.
“We take great pride in achieving this significant milestone, which not only showcases NextPay’s remarkable success but also underscores the success of SMEs in the Philippines. Our optimism regarding the continuous expansion of digital banking solutions in the Philippines remains unwavering,” he said.
NextPay is seeking to invite more strategic partners to further its mission of providing accessible and innovative financing services to underserved markets.