Tagcash takes stake in PackingDelicious
Online gourmet and health product retailer PackingDelicious has raised fresh funding from Tagcash.
PackingDelicious, a Philippine company founded and headed by Ramon Dolor III, is a marketplace and delivery service. Customers can order a variety of food dishes from local and artisan food retailers.
Tagcash is a Philippine fintech investor founded by Mark Vernon in late 2015, who says he is interested in investing in Philippine startups as a means of building a customer base for his micropayment platform.
Tagcash’s investment buys a 25 per cent stake in PackingDelicious, with the funds earmarked for marketing.
Dolor was a former operations manager of Foodpanda Philippines and held roles in logistics and customer service with Lazada Philippines.
“The idea came to fruition based on wanting to provide a much needed healthier alternative without directly competing with large name companies and the lack of reach of healthy products to the regular consumers. The site was then built but with a challenge of introducing the healthy alternative to Filipinos,” he said.
Dolor says PackingDelicious has built a following of more than 10,000 on Facebook and Twitter and has doubled sales each quarter since starting.