Here’s Higala! This Philippines-based startup helps microfinance institutions, rural banks, and thrift banks deliver modern and connected digital services. 

• Now, they’ve just raised a $4M seed. 
• This follows their seed extension round from March this year. 

Investor check. Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures joined the round. 

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💰 What’s next? 

They’ll use the funds to supercharge SynerFi, an open payments platform that integrates smaller financial institutions into InstaPay.

• InstaPay is an electronic fund transfer service by the Central Bank of the Philippines (BSP) that allows transactions between different banks in the country. 
• Why it’s important. Smaller financial institutions previously couldn’t afford to join InstaPay. 

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The impact. SynerFi is already modernizing 8 rural banks across the Philippines. 

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🔤 The ABCs of Higala

Through SynerFi, Higala enables smaller financial institutions to price their instant payments more affordably. 

• This enables rural banks and other institutions to better serve the underbanked through digital banking services. 

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Their tech. Higala leverages the open payment framework of Mojaloop Foundation, a non-profit that enables Higala to facilitate connectivity among financial entities, payment gateways, merchants, and the central bank.