Philippines-based Peddlr scores seed funding

Peddlr, a Philippines-based inventory and business financial management startup, has scored P215m ($4.1m) in seed funding.

Patamar Capital and Crestone Venture Capital co-led the round, with commitments also coming from Foxmont Capital Partners, Kaya Founders, January Capital, 500 Southeast Asia, Nordstar, Vulpes Ventures, KDV Capital and 335 Fund.

A host of notable angel investors also contributed to the round, including Summit Media President Lisa Gokongwei, Zalora Group CCO Giulio Xiloyannis, Zalora Group COO Rostin Javadi, Kippa Kennedy founder and CEO of Ekezie-Joseph and many others.

With the capital, the company hopes it can accelerate user growth so it can help one million micro and small businesses by the end of the year. It also hopes to speed up the release of new app features and digital products that would help its users.

Peddlr, which launched in July 2021, is a mobile POS app that helps micro and small businesses manage inventory and simple bookkeeping. Its app also comes with digital ledgers and a storefront to help users sell online.

Crestone Venture Capital co-founder Inanc Balci said, “MSMEs have been the driving force behind Philippines’ economy. However, the lack digitalization of their businesses, data and access to credit limited their growth. Peddlr’s ledger-app will help MSMEs leap forward and sustainably grow their businesses. We believed that Nel and his team’s vision, experience and execution will make Peddlr the leading business tool and supercharge Filipino entrepreneurs.”

With the close of the round, the company has raised a total of P240m ($4.6m) over the past seven months. It previously netted P25m ($486,000) in its pre-seed round in November 2021.

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