MANILA, PHILIPPINES — In a significant showcase of innovation and growth, the Globe Group raises the Philippine flag at the 2023 Singapore Fintech Festival (SFF) this week and shares its experience in raising unicorns as part of its transformative journey from a traditional telecom company to a dynamic technology company.
Organized by the Monetary Authority of Singapore and Elevandi, the SFF, happening at the Singapore Expo from November 15 to 17, 2023, is a global fintech event that attracts thousands of participants from around the world. Last year, it gathered 62,000 participants from 134 countries last year. The festival focuses on the intersection of financial services, public policy, and cutting-edge technology.
A highlight of the event is a panel discussion on “Building Unicorns: An ASEAN Success Story” featuring Globe Group President and CEO Ernest Cu and Mynt President and CEO Martha Sazon.
“Our transformation from telco to ‘techco’ reflects our commitment to innovation and solving real-world challenges. At SFF, we’re excited to demonstrate how this pivot is not just about business growth but making a tangible difference in the daily lives of Filipinos,” said Ernest.
Globe’s evolution is supported by impressive financial growth, with the company recording a 44% year-on-year increase in non-telco revenues, reaching PHP4.1 billion in the first three quarters of 2023.
A key aspect of Globe’s success story is GCash, operated by Mynt, which has emerged as the Philippines’ only double unicorn. The platform’s net earnings soared to PHP1.62 billion in the first nine months of 2023, a 149% increase from the previous year.
Martha said: “GCash is a testament to our customer-first approach and technological innovation. At SFF, we look forward to sharing our experiences and insights on creating inclusive financial solutions for millions of Filipinos.”
Meanwhile, KonsultaMD, one of 917Ventures portfolio companies, is also showing the potential of becoming the country’s next unicorn. KonsultaMD this year expanded into a superapp, providing comprehensive healthcare services to over 2 million Filipinos.
Globe is also optimistic about its collaboration with Gogoro of Taiwan in introducing two-wheel Smartscooters using battery-swapping technology. Gogoro Philippines recently opened the Gogoro Experience Center in Makati City, a key financial hub in the Philippines, the first outside Taiwan.
Globe is likewise laying its stake in the growing data center business through its partnership with ST Telemedia Global Data Centres. This year, STT GDC Philippines announced two major construction projects to boost the country’s data storage capacity and expand the capacity of its existing facilities by 5.2MW.
Globe’s shift from telco to “techco” is exemplified by its diversified portfolio, extending into fintech, virtual healthcare, e-commerce, business outsourcing, adtech, edutech, climate tech, media, and entertainment.
As the Globe Group continues to redefine its role in the digital era, its presence at the SFF will not only showcase its achievements but also affirm its position as a key player in the ASEAN region’s tech landscape.
To learn more about Globe, visit https://www.globe.com.ph/.
