By Mars Woo
RedDoorz said it expects to grow its footprint to 100 properties across the Philippines.
GSIS has committed to invest $314 million in Philippine Investment Alliance for Infrastructure (Pinai) fund,
SPi acquires Scope from India’s Quatrro Group, whose investors include PE firm Olympus Capital Holdings Asia, VC firm Walden International and asset management firm The DE Shaw Group.
The Philippine unicorn may look at a listing in the US, UK or Singapore.
The Philippines’ stock market is Southeast Asia’s worst performer this year, hit by rising inflation and a weak currency.
The venture, set up last year by Gokongwei’s JG Summit Holdings Inc. and financial-technology startup Oriente, seeks to give credit through a digital platform to Filipinos.
Grab Philippines head Brian Cu said the company will continue to invest in the Philippines with a budget of $57 million) in the next 12 to 18 months.
As valuations in markets such as Indonesia and Vietnam heat up, the Philippines could offer better value to investors.
The funding round gives the company a seven-digit USD valuation, tripling its value a year after its initial funding round.
Del Monte Pacific earlier said it intends to use the proceeds from the offering to partially prepay or repay certain loan facilities.