Ayannah, a Philippines-based digital payment services provider backed by digital media company Gree and e-commerce firm Beenos, is raising capital that will expand its overall funding to $8.3m, DealStreetAsia reported yesterday.
Founded in 2008, Ayannah provides digital commerce and payment services to Philippine citizens that do not have access to banks. It plans to almost double its clients from 8,000 to 15,000 in 2016 and also intends to launch an initial public offering.
The company is raising $3m for a series A round that will be co-led by venture capital firms 500 Startups and Life.Sreda.
Ayannah had previously raised $5.3m in funding, including $1.5m in October 2014 from Gree Ventures, which acts as Gree’ss corporate venturing arm, Beenos, Wavemaker Labs, Golden Gate Ventures and IMJ Investment Partners.