Higala has raised $4 million in seed funding to enhance digital transformation efforts for rural banks and promote financial inclusion in the Philippines.

Target Information

Higala, a fintech company based in the Philippines, has successfully closed a seed funding round totaling $4 million, significantly enhancing its efforts to digitally transform rural banks and microfinance institutions within underserved communities. This funding will bolster Higala's mission to promote financial inclusion through its open payments platform, SynerFi, which aims to facilitate smoother operations for smaller financial institutions in accessing the InstaPay network.

Higala's unique approach and swift scalability set it apart in the fintech landscape. According to Chief Executive Winston Damarillo, the company has effectively proven its model within the Philippine market and is positioned to replicate its success across other Southeast Asian nations. The escalating demand for inclusive and interoperable payment systems has highlighted the urgency of Higala's mission.

Industry Overview in the Philippines

The Philippines is experiencing a digital finance revolution, driven by governmental initiatives aimed at increasing financial inclusion, particularly in rural and underserved areas. With approximately 70% of the adult population unbanked, t