Philippines-based First Circle Raised $25 Million for Regional Expansion
Philippines based SME lending platform First Circle has reportedly secured funds amounting to $26 million in a fresh funding round. This round was led by Venturra Capital.
The other backers that participated in the funding round were Insignia Ventures Partners, Hong Kong’s Silverhorn Investment Advisors, and Tryb Group. The company plans to use these funds for the purpose of regional expansion.
Prior to this, the company raised $2.5 million, including a $1.3 million seed round 18 months ago. Founded by Irish duo CEO Patrick Lynch and CTO Tony Ennis, the goal of the company is to help small businesses scale by offering them short-term loans.
“A lack of access to capital is a problem that faces tens of thousands, if not hundreds of thousands, of businesses in the Philippines,” Patrick...