Filipino-Founded 'Venture Builder' Raises P63.2 Million From Global VC Firms
Filipino venture builder Talino Venture Labs announced on Friday (October 8) that it has raised $1.25 million (about P63.2 million) from cross-border venture capital firms and angel networks through an equity crowdfunding campaign in the U.S.
Leading the funding round for Talino was Wavemaker Labs, a next-generation corporate innovation fund investing in North America and Southeast Asia; Manila-based Foxmont Capital Partners, which is dedicated to Filipino-founded startups; management consulting and venture capital firm Johnsen Global Business Ventures; and Manila Angel Investors Network (MAIN), the largest committed private investors network in the Philippines.
In a news release, Talino also said it had secured investment commitments of up to $270,000 (P13.64 million) from almost 100 investors through its equity crowdfunding campaign on Wefunder.com. As a US-registered company, Talino leveraged the equity crowdfunding opportunity “to engage partners, clients, stakeholders, and supporters in investing early in Talino and being a part of the company’s growth.”
“Equity crowdfunding, or regulation crowdfunding, became possible through the Jumpstart Our Business Startups (JOBS) Act in the United States, which was signed into law in 2012 to boost the capability of smaller businesses to attract investments beyond those currently allowed by the Securities and Exchange Commission,” the news release said. “The JOBS Act lowered reporting and disclosure requirements for companies with less than $1 billion in revenue and enabled smaller businesses to advertise securities offerings. More importantly, the legislation allowed greater access to crowdfunding and expanded the number of companies that can offer stock without going through SEC registration.”
Talino said it intends to use the funds raised “for technology R&D and working capital as it builds repeatable, scalable, and profitable inclusive fintechs in underserved markets around the globe.” The organization said its current roster of startups currently serve at least 10 million customers in the U.S. and Asia.
“Talino started almost three years ago with the mission to become a venture studio for inclusive fintech, and we’ve been very fortunate to have worked with industry leaders in Southeast Asia, in the Middle East, and in the United States to bring financial inclusion closer to underserved markets,” said Winston Damarillo, CEO of Talino Venture Labs. “While our venture studio has already been able to raise $7 million in venture capital for our portfolio companies and operate profitably with over $2 million in revenue since 2019, our latest funding round and our equity crowdfunding campaign signals a new chapter in Talino’s history.”
Damarillo said Talino is making itself more “accessible to retail investors who want to invest in innovation with impact.” Investors can invest as little as $100 (around P5,000) on the Wefunder campaign, allowing them to be part of the TLV’s journey to empower the emerging middle class with inclusive fintech innovation.
“This is closely aligned with our own mission of inclusive finance as we make financial opportunities available to more people around the world,” Damarillo said.