Geographical footprint: Philippines, with plans to expand into South Asia, Southeast Asia, and the USayannah
Year founded: 2008
Company Snapshot

  • Ayannah provides digital commerce, payment and remittance services to the unbanked resident Filipinos in the Philippines and migrant Filipinos working overseas.
  • Ayannah was founded in 2008 and operates 3 main platforms: Sendah, Sendah Direct and Sendah Remit.
  • In the next two years, Ayannah aims to grow achieve a 15% market share of the domestic remittance market in the Philippines and expand its services into Singapore, South Asia, Southeast Asia and the US.
  • It aims to expand beyond payments and remittances into big data analytics, leveraging enormous payment data it is accumulating to provide value-added digital financial services such as identity verification, credit scoring and lead generation.
  • Ayannah plans to publicly list its Sendah platform in the Philippines in 2017. It is, however, leaving out its data analytics offshoot for a separate liquidity event in the future.

Value Proposition
The problem of financial inclusion

  • Globally a large number of people are unbanked, especially in developing countries.
  • In Asia where 490 million in the region still lack a bank account, remittances are a crucial part of the economy. Global international remittances in 2012 are around US$514 billion, with US$401 billion sent to developing countries.
  • Specifically in the Philippines, personal remittances is about US$10 billion in the first 5 months of 2014 – the bulk of it from abroad. ~42,000 villages in the Philippines are in rural areas where traditional branch banking has limited reach, and estimates that 96% of all transactions are made in cash.

Ayannah’s solution

  •  Ayannah aims to provide financial inclusion to the unbanked/underbanked in Philippines using 3 core platforms: Sendah, Sendah Direct and Sendah Remit
 Sendah Logo Sendah Direct Logo Sendah Remit Logo
  • B2C e-Commerce and payments platform that targets migrant workers and allows them to make gift remittances in kind, online or OTC
  • SaaS (B2B2C) that allows an end consumer to purchase products and services at a self-service or agent-assisted kiosk or POS
  • Bank-grade SaaS (B2B2C) that links domestic remittance agent networks together to allow the end consumer to remit funds cross-agent
Key offering
  • Mobile Top Up
  •  eGIft Certificates
  • Physical Goods
  • Insurance & Health Care
  • Mobile Top Up
  • Insurance
  • Remittance & Payments
  • Remittance & payments
  • Retailers and enterprises
  • PLDT/Smart Communications (Philippines’ largest mobile network operator)
  • Brick-and-mortar retailers offering related services
  • Western Union
  • MoneyGram
  • Transfast
  • Online remittance companies e.g. Xoom and World Remit
  • Bitcoin remittance companies

Business Model

 Sendah Logo Sendah Direct Logo Sendah Remit Logo
  1. Resale of goods and services (middleman cut)
  1. SaaS – Software licensing fees
  2. Revenue share of sales via Sendah Direct
  1. SaaS – Software licensing fees
  2. Cut/spread on transaction fees
Setup cost
  1. Webserver infrastructure
  2. IT security infrastructure development or purchase
  1. Software development costs
  2. POS/Kiosks – equipment costs
  3. Agent training costs (either via physical training or in the form of a manual/SOP or both)
  1. Software development
Recurring cost
  1. IT related (webserver/security infrastructure) maintenance
  1. Software maintenance
  2. POS/Kiosk maintenance
  1. Software maintenance

Key Figures

  • User base: >1 million repeat customers in total. (Est) 9,000 agents on board Sendah Direct and Sendah Remit in 2015
  • Funds raised: 4 funding rounds totaling US$7.5 million; latest funding round in Dec 2015 (US$3 million raised)
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