TANGGapp received $2.5 M Seed funding from Ten13, Goodwater Capital, others

The country views overseas Filipino workers (OFWs) as “modern-day heroes” for the hardships they endure while living apart from the families they work so hard to support. According to a report released in December of last year by the Philippine Statistics Authority, there were nearly 2 million such heroes in 2021.

TANGGapp, an organization that stands for Tap and Go Global App, is one startup attempting to assist these OFWs. Additionally, the name is derived from the Filipino verb tanggap, which means to “receive”.

Rebecca Kersch, a Filipino of Dutch and American ancestry, launched the app in 2021. She sought to reduce the cost of sending money back home by wire to her aunt, an OFW.

The business recently received seed funding from a number of investors, including Goodwater Capital, Foxmont Capital Partners, and Manila Angel Investors Network, totalling US $2.5 million. Other investor included Manila Angel Investors Network (MAIN).

Users can send money from the US to the Philippines quickly and for a small fee using TANGGapp. Users in the Philippines can also connect the app to their regional banks and e-wallets.

“Sending money should be as easy as texting, regardless of where you live or what you earn,” said Kersch, who also serves as CEO of the company.

With its mobile remittance product growing 25 times in the last two years, the startup has been making progress in streamlining remittance. Hundreds of millions of Philippine pesos have been sent through TANGGapp, which also has a 48% repeat usage rate.

The company’s goals extend beyond OFWs, though. People who want to send money from the Philippines to the US can use its services, and it also intends to add support for more nations.

The business added that it currently has new product partnerships and product releases in the works.