Manila, Philippines – Philippine-based multi-channel commerce platform development startup, ChatGenie, has raised additional capital in its recent fundraising campaign as part of Accelerating Asia’s fifth cohort for its first batch of investments from its US$20m Fund II.
ChatGenie is an end-to-end web-based platform that lets merchants create an online store via web browsers. It has partnered with a number of big brands and digital wallet platforms, such as GCash, PayMaya, and PayMongo.
The newly secured funding will enable ChatGenie to expand its reach in distributing its product to as many merchants as possible. It will also help ChatGenie to expand its operations by growing its team to cater to more clients and scale its services.
Craig Bristol Dixon, Accelerating Asia’s general partner, commented, “Accelerating Asia is excited to provide support and be an early investor into ChatGenie as it expands across the Philippines and regionally.”
Ragde Falcis, the co-founder, chief executive officer, and chief technology officer of Chat Genie, believes that Accelerating Asia will provide Chat Genie with the tools, network, and mentorship that the firm needs to grow fast.
“So far we have been able to partner with one of the biggest telecommunication companies to upsell our product to its business clients. We are looking for more partnerships like this where we can help their existing merchants grow while increasing the value that our partners provide,” said Falcis.
ChatGenie said that it is now gearing up for its next online demo day on 16 December 2021 as part of Accelerating Asia’s Accelerator Program, hoping to lure more investors in its next fundraising campaign.
