Yufin empowers nano firms with digital tools

YUFIN Philippines, a financial technology platform, is looking to double Philippine households’ monthly income by leveraging nano and micro enterprises’ financing options.

“Yufin is on a mission to double the monthly income of more than ten million households by empowering the smallest businesses,” Shubhrendu Khoche, co-founder and chief executive officer at Yufin Philippines, said in a statement.

“We want to make sure that sari-sari (mom-and-pop) store owners, ‘solopreneurs’ and housewives can grow their businesses with confidence because when they succeed, their communities succeed too,” he added.

Nano and micro businesses, run mainly by mom-and-pop store owners, solo entrepreneurs and housewives, face limited access to digital tools, affordable capital and reliable financial services.

Micro enterprises account for 90.43% of Philippine businesses at 1.13 million, while small enterprises account for 8.82% or 109,912, according to the Department of Trade and Industry.

About 8.1 million nano enterprises were operating in the Philippines as of 2022, according to the Social Enterprise Development Partnerships, Inc.

Founded in 2022, Yufin provides digital tools, financial services and income opportunities to empower small firms, and entrepreneurs in tier 2 and 3 cities.

Its key services include digital payments, embedded financing and reselling of in-demand products and services.

Through its distribution as a service (DaaS) model, Yufin turns community-based merchants into digital distribution hubs.

Store owners can use their phones as a point of sale to get insights on their shoppers and supplies, as well as access working capital.

This also lets them resell services such as insurance, over-the-top content like Netflix and Amazon Prime and transport prepaid cards.

Yufin has also integrated intelligent cloud-based solutions to optimize operations, forecast demand and tailor support to its merchant base.

Its wAIs cart — powered by Microsoft tools Azure and Power B — builds a complete, tailored basket for smaller firms for their weekly budget in one click. This helps Yufin analyze real-time trends, streamline supply chains and scale its infrastructure.

“As Yufin prepares for its seed round and pushes forward with its ‘10x in 6 months’ growth plan, its partnership with Microsoft ensures that the platform can keep up with growing demand while staying grounded in its purpose — creating real economic opportunity for those too often left behind,” the company said.

To date, Yufin has more than 30,000 registered merchants, with a monthly gross transaction volume and revenue growing by more than 25%. — Beatriz Marie D. Cruz