Advance

Advance is a Fintech startup based in the Philippines. The company, founded in 2018, aims to revolutionize the traditional lending system by offering a digital platform that provides on-demand salary advances to employees. Unlike conventional lenders, Advance prioritizes responsible lending, ensuring that borrowers are not burdened with unmanageable debt. The company's commitment to transparency and competitive rates, up to 90% less than other online or predatory lenders, sets it apart in the industry. In their latest milestone, Advance secured a significant $16.00M Series A investment on 29 March 2023, garnering support from prominent investors including Accion Venture Lab, Wavemaker, Do Ventures, Foxmont Capital Partners, Integra Partners, Kaya Founders, Next Billion Ventures, Oyster Fund, and Cross Ocean Ventures. This substantial investment not only underscores the potential of Advance's business model but also signifies the confidence of industry players in the startup's vision and potential for growth.

Overall, Advance presents a compelling opportunity for venture capitalists looking to tap into the rapidly evolving Fintech landscape, especially in the Philippines. The company's innovative approach to addressing cashflow needs and enhancing financial wellness for employees, coupled with its strong regulatory standing, positions it as a viable investment prospect with significant potential for disruption in the traditional lending sector.