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 +1
Founders / Decision Makers
Jamie De Los Angeles  — Co-Founder & CEO
Employees 94
Industries Financial Services, Fintech, Human Resources
Funding Stage Series A
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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.

Taxonomy: 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 Lendable, Oyster Ventures 29 Mar 2023
Venture Round $3.87M - 22 Dec 2022
Seed Round Unknown - 28 May 2020

Advance Alternatives & Competitors

Advance vs
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Advance vs

PayLik is a FinTech startup whose aim is to improve the financial-wellness of corporate employees.

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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 the following industries: Financial Services, Fintech, Human Resources.
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 Refyne, Salary Hero, PayLiK, borofree, PayCurve. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Advance and Refyne 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.

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