Peddlr: On Helping Micro and Small Businesses: Peddlr, a Philippine-based startup has raised $500k in an oversubscribed pre-seed round to help micro and small businesses manage their accounting operations efficiently, track business performance, and fully automate their inventory management.
Investors include Foxmont Capital Partners, Kaya Founders Investment SPV PTE. LTD., Luis Sia of Paymongo, Aaron Kemmer of Magic, celebrity host and entrepreneur, Richard Juan, and other strategic Angel investors from US and PH Startups.
Peddlr was officially launched in July 2021 by the founding team from the Philippines’ countryside that includes CEO Nel Laygo, COO Aiko Reyes, and founding developers, Francis Dela Cruz, Mel Francis Separa, and Nelson Bathan Jr.
The startup had introduced a free digital bookkeeping app to replace the traditional pen and paper sales recording, credit management, and manual inventory stock counting process, a method widely used by micro and small businesses in the Philippines. Peddlr had been experiencing high organic growth thru the word of mouth pre-funding phase and is expected to accelerate growth with the fresh funds raised. Part of the funds will be used to build a stable and scalable infrastructure to ensure it can handle the growing user base.
Peddlr has been proven to be a game-changer in the local scene attracting a high rate of technology adoption from the market and getting welcomed with great user love. The growth is proof for a strong product-market fit for the startup. Their App user community group is rapidly growing day by day.
The key features of the app include inventory management, digital ledgers- Cash, Credit and Payment ledger, digital invoicing, easy-to-read accounting reports, and a storefront to help small business owners efficiently manage their operations. It has the right balance of sophistication to provide value and simplicity to encourage adoption.
Peddlr aims to jumpstart Philippine micro and small businesses to the digital world and put them at the heart of economic recovery for 2021 and beyond.
