~ Southeast Asia’s No.1 "HR Tech x FinTech" solution provider ~
Singapore, 12th December 2017 – VENTENY.com, a hybrid employee benefits and FinTech Solutions platform based in the Philippines, has successfully raised US$2.3 Million in Series A round led by SBI Investment, a leading Japanese Venture Capital based in Tokyo, Japan. Following investors are SV-FINTECH - another Tokyo based VC firm, Mr. Mamoru Taniya and Mr. Makoto Takano who are two very prominent individuals in Japan’s FinTech community, and another independent firm from Singapore. This funding round will be deployed to accelerate the development of the platform and strengthening the group structure of Venteny for the forseable future.
1. Overview of VENTENY VENTENY is headquartered in Singapore and manages all operations in the Philippines as a pilot market before expanding to the other countries in Southeast Asia.
The company was launched in April 2015 as an exclusive company membership platform, which serves as a perks option for employees working for companies in the Philippines and as a benefits outsourcing service business for enterprises.
VENTENY offers clients’ employees loyalty programs in the form of exclusive perks, which provides employee discounts at establishments such as restaurants, fitness centers, and resorts & hotels. VENTENY also offers web-based short-term loan services as a service to company employees to secure fast, safe, and reliable access to emergency cash. With all of these perks and services for employees, the goal is to enhance company loyalty and provide better options for employees without the high financial costs usually associated with these types of service.
Today, VENTENY is one of the fastest growing hybrid FinTech × HR Tech start-up companies in Southeast Asian region, with a community of more than 80,000 registered employees in the Philippines and doubling in size annually.
2. Market environment in Southeast Asia Most countries in the Southeast Asian region are strained with common situations where employees are in constant need of immediate funds due to different circumstances. These can range from a variety of reasons from emergency medical care, tuition fees and school expenses, and general family assistance. Because of these issues, employees have the tendency to change jobs because incrementally higher salaries. VENTENY believes that it can address the problem by providing financial and lending services for employees in conjunction with other employee benefit solutions.
3 Background of this funding In line with strengthening the management foundation and building VENTENY platform system, VENENY has partnered with the Philippine Contact Center Association (CCAP) as a solutions provider, which represents the contact center Industry which is the biggest portion of the total BPO industry in the Philippines with an 800,000 employee count. Aside from the BPO industry, we are also partnered with banks and financial institutions, insurance companies, and IT companies.
With the rapid growth of our business, the founders sought outside funding to help materialize the plans for our technology as we aim to further expand business opportunities in in the ASEAN region.