MANILA - US-based Chemonics International has invested around $5 million into venture firm Talino Venture Studios, as they aim to bridge the financial inclusion gap in the country and other emerging markets worldwide.
Talino CEO Winston Damarillo said the partnership with Chemonics aims to boost finance inclusion to 50 million unbanked Filipinos. This will also include "low-income economies," he said. At the height of the pandemic in 2020, Talino Venture created the government-endorsed contact tracing app SafePass. This was eventually adopted by the government's inter-agency task force on COVID-19.
In partnering with Talino Venture, Chemonics President and CEO Jamey Butcher said, "innovation happens with smart investments and smart partnerships."