Dragonpay Raises Series A from GMO to Grow Philippine E-Commerce
Summary
Other limited partners of the Fund are major financial institutions including credit card issuers and acquiring banks.The Fund is managed by GMO Venture Partners Inc. “GMO’s investment in our company is a validation to the soundness of our business model,” said Robertson Chiang, co-founder and COO/CTO of Dragonpay.“With 10 millions Filipinos working overseas and an estimated USD25 billion in remittances being made annually, Dragonpay is continually looking at expanding its payment network to reach out to these customers abroad,” Chiang adds.The Fund is managed by GMO Venture Partners Inc.“GMO’s investment in our company is a validation to the soundness of our business model,” said Robertson Chiang, co-founder and COO/CTO of Dragonpay.“With 10 millions Filipinos working overseas and an estimated USD25 billion in remittances being made annually, Dragonpay is continually looking at expanding its payment network to reach out to these customers abroad,” Chiang adds.Ryu Muramatsu, Director, Founding Partner of GMO Venture Partners, Inc. and co-founder of GMO Payment Gateway Inc. explains the investment: “I love this huge but growing and unbanked market with 100 million people.