Meet TANGGapp! This free mobile payments app doesn’t charge transfer fees, making it cheaper for US-based workers to send money to the Philippines. And they just raised a $2.5M seed. 

Investor check. Ten13 and Goodwater Capital led the round, while North Fifth Asia, Foxmont Capital, and some investors from Manila Angel Investors’ Network (MAIN) joined in.

• This brings their total funds raised to $4M! 

‍

🇵🇭 Big picture

Overseas Filipino workers’ remittances reached a record high of $36.1B in 2022. That’s 8.9% of the country’s gross domestic product!

• And according to the Philippines’ central bank, 41.2% came from the US. 

‍

💸 The ABCs of TANGGapp 

TANGGapp charges zero transfer fees—yes, no matter how much or how little you send!

 You can make transfers for as low as $5. Plus: 

• Buy mobile credits (load) for any Filipino phone number, or top up your own.
• Schedule automatic transfers for bills in the Philippines.
• Why that matters? Most OFWs are breadwinners, and these features can help them support their families better.

Best for? OFWs who want to send money back home, local freelancers who have US-based employers, and more!

• How it works. Just connect your account to local banks and e-wallets like Gcash. 

‍

🌍 What the future holds? 

They’re going to capture more markets and roll out an outbound remittance feature soon.

• Going global! They also want to expand to serve migrants and the unbanked across the world. 
• Scoop: TANGGapp (tanggap) means “to receive” in Filipino.