05 Feb I Remit Makes Acudeen Accessible to Global Funders to help Philippine SMEs
Another step closer to inclusivity for Filipinos.
On January 29, 2018, Acudeen has reached another milestone by forming a partnership with I-Remit. Malaya Laraya (Chief Revenue Officer) and Attorney Pauleen Ann Aure of Acudeen along with Harris D. Jacildo (President and CEO) and Elizabeth G. Yao (Executive Vice President Service and Operations) representing I-Remit respectively, signed a Memorandum of Agreement at Discovery Center, Pasig City at 2 pm.
I-Remit is the largest Filipino-owned non-bank remittance company particularly, catering all Overseas Filipino Workers. The company is well-known for their affordable rates and accessible branches among OFWs worldwide. In addition, their vision is to be the best remittance service provider across the globe, by continuously exploiting innovation and competitive edge in the remittance industry.
Founded in 2016 by entrepreneurs and technologists Mario Jordan “Magellan” Fetalino III and Mario Salazar, Acudeen is a globally awarded financially technology company that facilitates receivable discounting for small businesses in the Philippines. Acudeen understands the huge problem that SMEs face when it comes to having access to financing from banks, and also the difficulty in managing long payment terms, which averages at 90 days for most corporations. Through Acudeen, SMEs with 30-150 day receivables can get advance payments on them by assigning the receivable contract to willing funders in exchange of a discount.
One of the struggles that Acudeen’s international funders face is the difficulty to remit funds from overseas to the Philippines. In a survey conducted by Acudeen last November 2017, international funders have inconvenient experience in performing overseas transactions due to limited remittance options.
To address the concerns of the funders overseas, Acudeen aims to provide a more accessible, cost-efficient, and convenient overseas transaction. Collaboratively, Acudeen in partner with I-Remit serves as a catalyst for Acudeen funders enabling them to have a simplified and convenient experience. The partnership paves the way for Acudeen funders to have a smoother experience with their platform transactions. Lastly, I-Remit also allows Acudeen to open more avenues for Acudeen funders around the world.
In the future, Acudeen envisions to be the largest Filipino Financial Technology (FinTech) company to create a financially inclusive environment for small businesses and small investors. With this objective at hand, Acudeen employs all opportunities to gain a partnership with prestigious companies such as I-Remit. Ultimately, Acudeen and i-Remit share the same vision and goal, to build the swiftest and most secure method to transact globally for the Filipino people.
For more information about the partnership, you may visit www.acudeen.com.