Farm Konekt is a community-based farm management enterprise platform that focuses on data-driven clustered production to upskill farmers and secure demand for their produce. Farmers as well as fisherfolks are offered clustering solutions that encompass consultancy, capacity building, and matching them with customers.
To boost the agricultural sector even further, the partnership will also give farmers and fishermen access to a wide range of essential business services in the GCash app, such as GSave and GInsure, to grow their savings and secure their finances.
The Memorandum of Understanding was signed by Fuse Lending President and CEO Tony Isidro, GLoan Product Head Kevin Yu, Farm Konekt President and CEO John Gastanes, and Farm Konekt Chief Operations Officer Stephen Costiniano.
"This partnership continues our relentless drive to serve Filipino farmers, aligning the GCash mission to serve every Filipino wherever they are. Farm Konekt's connections with the farmer groups make them a good on-ground arm for us to better understand the needs of our farmers, who form one of the most important sectors of our economy," said Isidro.
"Together with GCash, we look forward to building an inclusive ecosystem that ensures farmers and fisherfolks benefit from the fast-evolving digital economy. The majority of the farmers we transact with either go through remittance centers or use GCash. To formulate a robust scoring strategy, we have focused on our core strength, which is clustered acceleration, while entrusting GCash to excel in providing inclusive financing opportunities," said Gastanes.
The agreement kicked off with a financial literacy session with farmers in Jaen, Nueva Ecija, where they were taught how to manage their finances with concepts like savings, insurance, and responsible borrowing.
The collaboration aims to make significant contributions to the Agritech industry, which is focused on data-driven farming and linkage to markets, with innovative fintech solutions that make essential financial services accessible to the unbanked majority.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
