FINANCIAL MANAGEMENT application Lista has recorded over two million transactions just a year after its launch.
“When we started Lista, the problem that we saw was there were no available tools in the market in terms of managing finances. The tools that were out there were either complex, or they were either not built for Filipinos,” Lista Co-Founder Aaron M. Villegas said at a briefing on Wednesday.
“So, we came up with Lista, which is a simple financial management app. Our goal is to essentially help our fellow Filipinos improve their finances and make it more digestible. And we’ve been so lucky that within just a year we have seen a wide range of users,” he said.
Lista, a free application, allows merchants and individuals to track the flow of money and see their profits and savings in real-time.
Since it was launched in September last year, Lista recorded a total of 2.4 million money in transactions, with a value of P7.8 billion. With expenses, it has recorded 2.3 million transactions valued at P5.5 billion.
The application can also help record and collect debts. Mr. Villegas said they have recorded 879,000 transactions or P2.1 billion from lenders, and borrowers were able to pay around 70% of their debt.
Mr. Villegas noted that their users have been collecting debt three times faster with Lista.
He said the app has now over 1.4 million downloads across the country.
The company also raised around $5.8 million or around P336 million in capital within a year from foreign investors, he said.
On Wednesday, the financial technology startup introduced a budgeting feature within the Lista app, which allows users to set weekly, semi-monthly, or monthly budgeting cycles to track their expenses and savings.
“Being aware of how we spend is one of the best ways to utilize money. Through Personal Budgeting on Lista, we envision every Filipino to easily gain financial clarity through the help of technology,” Mr. Villegas said.
“With the holidays coming up, whether you’re planning to buy gifts or a spread for your Christmas celebration, Lista makes it easy to see where your hard-earned money goes, and helps you maximize your budget to help you give more to what’s most important in your life.” — KBT