Talino Venture Studios, a Los Angeles, California-based global venture studio for inclusive fintech, received a $5m investment from Chemonics International.
The core mission of the strategic partnership is to leverage the companies’ combined expertise to tackle challenges of financial inclusion in emerging economies.
Chemonics and Damarillo first worked together in 2020, as part of the USAID E-PESO Activity. That project, funded by the U.S. Agency for International Development (USAID), aimed to increase the adoption of electronic payments (e-payments) in the Philippines.
Building off this success, 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.
Led by CEO Winston Damarillo, Talino Venture Studios is a global venture studio for inclusive fintech to bridge financial inclusion for over 1.7 billion people around the world. It uses the venture studio model to build repeatable, scalable, and profitable fintechs that empower underserved, underrepresented groups around the world with financial access and mobility. Talino Venture Studios has collaborated innovative fintech companies such as BayaniPay, Asenso, Earnie, and Saphron.
Founded in 1975 and led by President and CEO Jamey Butcher, Chemonics is one of the world’s leading global sustainable development consulting firms. With over 6,000 experts in more than 100 countries, the company collaborates with communities across the globe to identify and apply innovative, sustainable solutions to the world’s biggest challenges. 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.