Chemonics International Inc., a US-based private international development firm, invested $5 million in Talino Ventures Studios to build groundbreaking, impact-driven, scalable technology solutions for individuals and communities in emerging markets.
“Our partnership with Chemonics signifies a pivotal moment in sustainable innovation. With a history of successful transformations and ventures and a commitment to people-first innovation, we’re devoted to closing the financial inclusion gap for the underserved individuals and communities in emerging nations worldwide,” Talino chief executive Winston Damarillo said.
“We’re on the verge of something extraordinary,” he said.
Talino, known for its extensive experience in venture building and deep expertise in inclusive fintech, consistently propelled industry transformation through dynamic collaborations with innovative fintech companies such as BayaniPay, Asenso, Earnie and Saphron.
Talino’s steadfast dedication to driving meaningful change has positioned these startups as leaders in the industry.
“Innovation happens with smart investments and smart partnerships, and our investment in Talino represents the coming together of two unique and complementary companies,” Chemonics president and chief executive Jamey Butcher said.
“Talino has a proven record of developing high-impact technology and combined with Chemonics’ access to local leaders and deep expertise gained from our work in nearly 100 countries, we can create groundbreaking, scalable solutions with the potential to help millions,” he said.
Chemonics is a leading sustainable development firm, which brings decades of experience implementing life-changing projects throughout the world to the collaboration. With deep 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.
The core mission of this strategic partnership is to harness the companies’ combined expertise to tackle challenges of financial inclusion in emerging economies.
Fueled by Chemonics’ $5 million investment, both organizations are fully committed to helping millions access financial services through inclusive and scalable technology.
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.