Advance logo — Supercharge your business with a line of credit. Reach out t...

Advance

Supercharge your business with a line of credit. Reach out to us via messaging or explore our website at www.advance.ph.

Founded 2018 Philippines Philippines 94 employees Series A Total: $19.87M Financial Services, Fintech +1

General Information

Company Name Advance
Founded Year 2018
Location Philippines Philippines
Founders / Decision Makers
Team member
Employees 94
Industries Financial Services, Fintech, Human Resources
Funding Stage Series A
Social

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About Advance

Advance is a Fintech startup based in the Philippines. The company, founded in 2018, aims to revolutionize the traditional lending system by offering a digital platform that provides on-demand salary advances to employees. Unlike conventional lenders, Advance prioritizes responsible lending, ensuring that borrowers are not burdened with unmanageable debt. The company's commitment to transparency and competitive rates, up to 90% less than other online or predatory lenders, sets it apart in the industry. In their latest milestone, Advance secured a significant $16.00M Series A investment on 29 March 2023, garnering support from prominent investors including Accion Venture Lab, Wavemaker, Do Ventures, Foxmont Capital Partners, Integra Partners, Kaya Founders, Next Billion Ventures, Oyster Fund, and Cross Ocean Ventures. This substantial investment not only underscores the potential of Advance's business model but also signifies the confidence of industry players in the startup's vision and potential for growth.

Overall, Advance presents a compelling opportunity for venture capitalists looking to tap into the rapidly evolving Fintech landscape, especially in the Philippines. The company's innovative approach to addressing cashflow needs and enhancing financial wellness for employees, coupled with its strong regulatory standing, positions it as a viable investment prospect with significant potential for disruption in the traditional lending sector.

Business keywords: Employee Benefits, Salary Advances, Technology and Automation, Earned Wages, Earned Wage Access, Short-term Loans, Online Lending, Financial Wellness, Employee Engagement, Philippines, Licensed Lender, Instant Disbursement, Transparent Rates

Funding Rounds & Investors (3)

View All
Funding Stage Amount Investors Lead Investors Date
Series A $16.00M 10
Accion Venture Lab, Wavemaker +8
29 Mar 2023
Venture Round $3.87M -
22 Dec 2022
Seed Round Undisclosed -
28 May 2020

Advance Alternatives & Competitors

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Advance vs
Salary Hero
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Advance vs
Cappy
Cappy Sweden

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Advance vs
Tapcheck
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FAQ About Advance

Supercharge your business with a line of credit. Reach out to us via messaging or explore our website at www.advance.ph.
Advance was founded in 2018.
Advance is headquartered in Philippines.
Advance operates in Financial Services, Fintech and Human Resources. Its work centres on Employee Benefits, Salary Advances, Technology and Automation and Earned Wages.
Advance has approximately 94 employees.
Advance has completed 3 funding rounds, raising a total of $19.87M. The latest funding stage is Series A.
Top alternatives and competitors to Advance include Salary Hero, Cappy, Tapcheck, Payactiv, Hastee - A Zellis Company. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Advance and Salary Hero are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Advance, https://bouncewatch.com/company/advance, updated 30 December 2024. When citing, please name BounceWatch and link this page.

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