PH startup builder Talino Venture gets fresh $5 million capital from US-based Chemonics

Startup builder Talino Venture Studios, led by venture capitalist Winston Damarillo, secured fresh capital of $5 million from Washington D.C.-based Chemonics International.

In a news release on Tuesday, Talino Venture said its partnership with Chemonics, through the $5-million investment, will focus on building “groundbreaking, impact-driven, scalable technology solutions for individuals and communities in emerging markets and beyond. Both firms will work on making financial services accessible through inclusive and scalable technology."

Talino Venture, in particular, is known for its experience in venture building and expertise in inclusive fintech. It is the venture builder behind fintech firms BayaniPay, Asenso, Earnie, and Saphron.

"Our partnership with Chemonics signifies a pivotal moment in sustainable innovation. With a history of successful transformations and ventures and a commitment to people-first innovation, we're devoted to closing the financial inclusion gap for the underserved individuals and communities in emerging nations worldwide,” said Damarillo.

Chemonics International, on the other hand, is known for its expertise applying new technology, including digital payments, in some of the most remote and under-developed areas in the world.

Chemonics has used drone technology to deliver and pick up medical lab samples in hard-to-reach areas of Malawi and has developed a technology-based forest and biodiversity conservation system in the Philippines.

“Innovation happens with smart investments and smart partnerships, and our investment in Talino represents the coming together of two unique and complementary companies. Talino has a proven record of developing high-impact technology and combined with Chemonics’ access to local leaders and deep expertise gained from our work in nearly 100 countries, we can create groundbreaking, scalable solutions with the potential to help millions,” said Chemonics President and CEO Jamey Butcher.

Talino said its partnership with Chemonics will continue to focus on fintech solutions, including the aim of expanding financial inclusion among the about 50 million unbanked Filipinos. — DVM, GMA Integrated News