GCash earns 1.63B in 9 months

The Singapore FinTech Festival (SFF) 2023 runs from November 15 to 17 and GCash is making waves.

With a population of over 100 million people, many of whom are young and tech-savvy, the Philipoines is ripe for innovation and disruption. However, there are also many challenges, such as low financial inclusion, poor internet infrastructure, and lack of access to quality healthcare.

That's why Globe Telecom, the country's leading mobile network operator, and GCash, its mobile wallet subsidiary, are making waves in the tech scene.

Globe and GCash are showcasing their success stories at SFF 2023, the world's largest fintech event. They will share how they have evolved from being a traditional telco to a techco, and how they have created the country's only double unicorn, or duacorn, with a valuation of over $2 billion.

Here are some of the highlights of their achievements:

GCash: The Philippines' leading fintech platform. GCash has grown exponentially in the past few years, reaching over 50 million users and processing over $30 billion in transactions in 2023. It offers a wide range of financial services, such as money transfer, lending, investment, insurance, cryptocurrency, and lifestyle services. It also partners with various organizations, such as the government, NGOs, and businesses, to provide inclusive and convenient solutions for the underserved and unbanked segments of the population. GCash is also expanding its global reach, allowing users to transact in 17 countries and sign up using international mobile numbers in six countries.
KonsultaMD: The Philippines' first virtual healthcare superapp. KonsultaMD is another portfolio company of Globe's corporate venture builder, 917Ventures. It provides comprehensive and affordable healthcare services to over 2 million Filipinos, such as teleconsultation, e-prescription, e-lab, e-pharmacy, and e-insurance. It also leverages AI and data analytics to improve its services and customer experience. KonsultaMD is on track to becoming the country's next unicorn, with a projected valuation of over $1 billion by 2024.
Gogoro: The Philippines' first smart electric scooter. Globe has also partnered with Gogoro, a Taiwan-based company that produces smart electric scooters and battery-swapping stations. Gogoro Philippines recently opened its first experience center in Makati City, where customers can test drive and purchase the scooters. The scooters are designed to be eco-friendly, cost-efficient, and fun to ride. They also have smart features, such as GPS, Bluetooth, and mobile app integration. Gogoro aims to revolutionize the urban mobility and reduce the carbon footprint in the Philippines.
STT GDC: The Philippines' leading data center provider. Globe has also collaborated with ST Telemedia Global Data Centres, a Singapore-based company that operates data centers across Asia and Europe. STT GDC Philippines has announced two major construction projects that will boost the country's data storage capacity, as well as expanded the capacity of its existing facilities by 5.2 MW. The data centers will support the growing demand for cloud computing, e-commerce, and digital services in the Philippines.

Globe and GCash are not only transforming their own businesses, but also the entire tech ecosystem in the Philippines. They are creating value for their customers, partners, and stakeholders, as well as empowering millions of Filipinos to live better lives.

Surely, cooperatives can take a lot of important lessons and cues from GCash.