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Thursday, March 28, 2024

Mobile Start-up Raises Private Capital

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Pitaca Digital Services (PDS) has successfully raised funding from private institutional and individual investors for iRegalo, its highly innovative online service.  iRegalo allows Filipinos anywhere the convenience of sending gifts or electronic gift certificates (EGCs) to their loved ones directly from their phones or computers.  

Serving the large and growing remittance market, iRegalo uses state-of-the-art EGC technology to make sending gifts simple and easy. PDS was advised by Carillion Partners, a provider of strategic, business, investment, and financial advice and services to investors and investees in the private equity, venture capital, and private debt space. 

Seated (L-R): Martin Nery, iRegalo President; Manolo Aquino, iRegalo Chairman; Mari Gomez, Carillion Managing Director.  Standing (L-R): Andrew Fernandez, iRegalo Head of Marketing; Gilbert Paras, iRegalo Director and CFO; Norvin Villa, Carillion Investment Analyst; and Gerald Baldivia, Carillion Managing Director. 

At the signing of the agreement, iRegalo Chairman Manolo Aquino said, “We are glad to successfully conclude this funding exercise.  We believe that iRegalo will be a key driver of innovation serving the remittance market.” 

iRegalo President Martin Nery added, “We are partnering with a host of merchants who will enable us to extend our reach across the country.  We believe iRegalo will provide compelling convenience and tremendous value to our kababayans supporting their families here.” 

“We are delighted to have helped make possible the launch of iRegalo, which promises to be a game changer in the Philippines’ e-commerce landscape and to profoundly improve the way working Filipinos send their love to distant families for whom they sacrifice so much,” remarked Carillion Managing  Director Mari Gomez.  “Post-investment, we feel privileged that we shall play a continuing role in iRegalo’s story, by contributing strategic inputs aimed at growing and strengthening PDS’s enterprise value.” 

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About PDS and iRegalo: 

Pitaca Digital Services is a start-up led by telecom and consumer products experts. Its launch platform, iRegalo, offers control and convenience to the online Filipino remittance market. iRegalo gives Filipinos working away from home a worry-free means of providing for their families’ needs. With just a few clicks, Filipinos can send flowers and gadgets to family and friends anywhere in the Philippines.  Soon, iRegalo users will be able to send EGCs honored at participating hospitals, clinics,  drugstores, supermarkets, and other merchant types all over the country.

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