Kakao Investment, along with Filipino company Satoshi Citadel Industries (SCI) Venture, Inc., gets a significant boost on their expansion plans through the investment of Philippine’s leading micro-financing provider, P.J. Lhuillier, Inc. (PJLI). Although undisclosed, everyone can expect the amount to help the rapid growth of the company in the coming years.
The massive undertaking will help provide new-tech financial services such as blockchain and other digital solutions to PJLI’s biggest subsidiary, Cebuana Lhullier’s more than 25 million customers domestic and abroad. SCI also hopes to leverage on the 2500-strong Cebuana Lhullier branches across the country.
“Our goal is to be available for our customers 24/7 digitally, and SCI is our conduit in doing so,” said Jean Henri Lhuillier, PJLI president, and CEO.
“We’re happy to be backed by an institution like Cebuana Lhuillier. We are well-aligned in our goal to provide better inclusive financial services in the Philippines. Their extensive brick-and-mortar network is unmatched in reach and efficiency, and going digital is a natural step forward for the company. SCI is excited to be part of this journey as a technology partner,” Miguel Cuneta, SCI Ventures Inc. CCO and co-founder, says in return.
Satoshi Citadel Industries (SCI) Ventures Inc. is the owner of Rebittance Inc, the largest virtual currency exchange that the Central Bank of the Philippines recognizes.
Featured image grabbed from Cebuana Lhuillier website.
