Lista, a book-keeping app for micro, small, and medium enterprises in the Philippines, has secured undisclosed funding from 1982 Ventures, East Ventures and Saison Capital, and Alternate Ventures.
Monde Nissin Family Ventures’s Willy Arifin, former Grab Philippines President Brian Cu, Pinelabs CEO Amrish Rau, CRED founder Kunal Shah, Jupiter Bank CEO Jitendra Gupta and Google APAC senior executives Aurelien Pichon and Alap Bharadwaj also co-invested.
Lista will use the funds to grow the team and expand the product offering to reach more MSMEs.
Lista was founded by Aaron Villegas, an experienced entrepreneur with product experience, and Khriz Lim, a former Grab executive.
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The Lista app helps MSMEs (freelancers, logistics operators and riders, and other small businesses) digitise their business. In addition, the app also enables them to manage their finances, such as debt tracking, transactions recording, and invoice issuing.
Since its launch in September, Lista claims to have helped collect about US$1.5 million in receivables from MSMEs in the Philippines.
MSMEs are vital to the Philippine economy as they comprise about 99.51 per cent of business establishments in the country and employ around 63 per cent of the country’s workforce, according to data from the Philippine Statistics Authority (PSA). However, the COVID-19 pandemic severely hit them. The prolonged lockdown and quarantines led to the halting of almost 74 per cent of these MSMEs, according to the country’s Department of Trade and Industry.
“MSMEs are the backbone of the Philippine economy, and it’s time we stop leaving them behind. Through this app, we want to revolutionise the way MSMEs operate and provide them with a reliable digital partner,” said co-founder Khriz Lim.
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Image Credit: Lista
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