Homegrown financial technology (fintech) player NextPay, a startup backed by the Sy, Gokongwei, and Ayala Groups, has clinched a podium finish in the recent Shell LiveWIRE Top Ten Innovators Awards for the Business Innovation Category.
A global competition designed to highlight entrepreneurs that create meaningful impact in their communities, Shell LiveWIRE received a total of 195 applications from 17 countries around the world.
NextPay is part of the Top Ten Innovators for Business Innovation in this year’s awards, after demonstrating “innovative solutions in their products or services or business model, including leveraging e-commerce and digital marketing to reach new markets.”
“We are very humbled to be named as one of the Top Ten Innovators in the world when it comes to Business Innovation. While this victory brings prestige to the company, NextPay is also more than happy to bring honor to the Philippines with this award. Undoubtedly, now with Shell’s stamp of approval, we can say that the country is on its way to a booming economy which prioritizes business innovation and social impact in the post-pandemic era,” said NextPay CEO and Co-Founder Don Pansacola.
NextPay provides simpler all-in-one digital financial solutions to businesses, often seen as too small for traditional enterprise banking services. It offers micro, small, and medium enterprises (MSMEs) simplified and streamlined tools to help them scale up at a fraction of the cost by automating processes to collect, send, and manage money.
“The commitment you’ve shown in finding innovative solutions to help micro, small, and medium businesses experience easier financial operations, proved to be the key to your achievement. May you continue to be part of rebuilding our nation and spark change to our fellow Filipinos. Together, we can keep moving the Philippines forward,” Pilipinas Shell Petroleum Corp. Country Social Performance and Social Investment Manager Conrad Parizal said.
Since it was introduced during the height of the pandemic in 2020, NextPay has processed more than P2.7 billion worth of payments for more than 3,500 growing companies and raised pre-seed funding from YCombinator, an established business accelerator on the global startup stage.
“NextPay and Shell share a common vision – both of us are committed to empowering growing businesses, as they are the backbone of the economy. More than just another achievement to list under our startup’s name, this win is a testament to NextPay commitment to making a meaningful impact in the lives of Filipinos,” said NextPay Co-Founder and COO Artie Lopez said.
NextPay is backed by Silicon Valley-based startup accelerator Y Combinator, Singapore-based venture capitalist Golden Gate Ventures, and Gentree Fund, a private investment vehicle of the Sy Family of the SM Group conglomerate, and other investors.
“Being hailed as one of the world’s Top Ten Innovators for Business Innovation in the world encourages us to develop more fintech solutions that are tailored to the ever-evolving needs of growing businesses,” NextPay Co-Founder and Chief Experience Officer Aldrich Tan said.
Image credits: www.nextpay.world