Singapore-based fintech startup Pilon is expanding its presence in the Philippine market after raising an undisclosed sum from Manila-based early-stage venture investor Kaya Founders.
The financial injection from Kaya followed a recent Seed round in which Pilon, co-founded by Alex Chua and Eddie Lee in 2020, raised $5.2 million. The startup has already established a dedicated division in Metro Manila to support its expansion plans.
The additional funding will also be used to improve Pilon’s digital product offerings, expand its presence in existing markets like the Philippines and Cambodia, and explore new markets like Vietnam, Thailand, and Indonesia in the coming year.