Free to download, free to use, and can be used offline. Mobile app Lista PH is looking at helping micro, small, and medium enterprises, as well as individuals, manage their finances. Lista (or list in English) is simple to use: Users can list down their earnings and expenses.
Since its launch in September, Lista PH has had P75 million in receivables through the app. The founders of Lista hopes to help Filipino MSMEs digitize their cash and credit transactions, get cash flow visibility, and help them grow their profits faster.
“As part of the financial inclusion strategy, we want to help small businesses by providing them with a digital tool that is simple to use and doesn’t need data,” said Aaron Villegas, co-founder of Lista PH. “We want them to grow their businesses through digitalization and graduate from the pen-and-paper habit.”
As the name suggests, Lista is simply a tool to list income and expenses plus receivables from customers or other businesses. Lista also has a feature that would remind the borrower or debtor of the payment due to the creditor.
Businesses can now record their sales, expenses, customer debts, and profits in one application enabling them to review past transactions that would help them make better decisions in the future. All the recorded numbers are calculated automatically and “saved securely.”
According to Villegas, the company will be incorporating other fintech solutions so they can monetize its use while providing services to consumers or businesses for free.
The free bookkeeping app doesn’t eat so much storage space as it is only 13 MB compared to the Facebook app’s 256 MB. Once downloaded, users, even or especially in places with little or no network connection, will be able to use the app. It means that sari-sari store owners in the countryside will be able to maximize the available technology.
They are also backed by Saison Capital bank in Japan as well as East Ventures and 1982 Ventures, which are venture capital firms that fund promising early fintech startups in Southeast Asia. Other investors include former Grab Philippines chief Brian Cu, Monde Nissin Family Ventures Willy Arifin, Jupiter Bank CEO Jitendra Gupta, Pinelabs CEO Amrish Rau, CRED founder Kunal Shah, Google Asia Pacific senior execs Aurelien Pichon and Alap Bharadwaj.