Headquarters: Makati City, Philippines
Vertical: K-12, Higher Education, Career
Tech: Web App
Our EdTech Funding Coverage is brought to you by Digital Education.
In this Asia edition of EdTech Funding News we cover rounds that took place in June and July.
Fliplingo, a translation service for Twitter raised a $150k Seed Round. PhilSmile, an education payment service for Filipino overseas workers raised an undisclosed amount of seed investment. Chinese test prep platform Wanxue raised an undisclosed Series C, probably in the tens of millions range. Yuantiku, another Chinese test prep platform, raised a $15 million Series C. Last but not least, Taamkru, a developer of web and mobile apps for pre-schoolers out of Thailand, raised a $620k Seed Round.
For developing nations like the Philippines, remittances from oversea workers play an important economic role. According to data from the country’ central bank, remittances made through bank transfers surged 6.1 percent to $10.404 billion in the first five months of 2014 from $9.809 billion in the same period in 2013.
And while this is already an astonishing amount in itself, we must not forget that still a large part of the population is unbanked or underbanked and therefore uses other ways of sending and receiving cash.