Talino Venture Studios, a venture capital firm focusing on inclusive fintech, received fresh funding from Chemonics, a sustainable development firm, of $5 million.
The partnership between Talino Venture Studios and Chemonics aims to harness their combined expertise to tackle the challenges of financial inclusion in emerging economies.
“Our partnership with Chemonics signifies a pivotal moment in sustainable innovation,” said Winston Damarillo, CEO, Talino Ventures. “With a history of successful transformations and ventures and a commitment to people-first innovation, we are devoted to closing the financial inclusion gap for the underserved individuals and communities in emerging nations worldwide.”
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Talino Venture Studios’ dynamic collaborations with innovative fintech companies include BayaniPay, Asenso, Earnie, and Saphron.
Smart investments
With experience in applying new technology, including digital payments, in some of the most remote and under-developed areas in the world, Chemonics has used drone technology to deliver and pick up medical lab samples in hard-to-reach areas of Malawi and has developed a technology-based forest and biodiversity conservation system in the Philippines.
“Innovation happens with smart investments and smart partnerships, and our investment in Talino represents the coming together of two unique and complementary companies,” said Jamey Butcher, president and CEO, Chemonics.
Butcher highlighted Talino’s ability to create high-impact technology and leverage Chemonics’ access to local leaders and extensive expertise acquired from operations in nearly 100 countries. Together, they have the potential to pioneer scalable solutions capable of benefiting millions.
Driving impact
Chemonics and Damarillo first worked in 2020, as part of the USAID E-PESO Activity. The project, funded by the US Agency for International Development (USAID), aimed to increase the adoption of electronic payments (e-payments) in the Philippines.
Building off this success, the new Chemonics-Talino partnership will continue to focus on fintech solutions, including one to expand financial inclusion among the 50 million unbanked citizens of the Philippines, as well as in other low-income economies.
“While Talino’s ventures are built on Filipino innovation, our partnership with Chemonics enables us to go beyond the Filipino diaspora and make a positive impact on the lives of many more people,” Damarillo said.