December 16, 2025
Kollab announced a major investment in fintech startup Evolut10n Labs, Inc. (PayRex), a provider of modern, end-to-end payment solutions for businesses in the Philippines. The Series A investment amounting to USD 2 million also coincided with the acquisition of significant equity in the startup, making Kollab the majority shareholder of PayRex.
PayRex was co-founded in September 2023 by fintech thought leaders Jaime Hing and Edwin Lacierda, both of whom were among the co-founders of PayMongo, another local fintech player. PayRex is PCI DSS-compliant and is supervised and regulated by the Bangko Sentral ng Pilipinas.
“We built PayRex to empower businesses in the digital era. Kollab’s investment will accelerate our vision to shape the future of payments with secure and seamless payment solutions,” said Jaime Hing, Co-Founder and CEO of PayRex.
De La Salle - College of Saint Benilde, Wheyl Nutrition, and Linya-Linya are some of PayRex’s growing list of merchant partners today. SM Investments subsidiaries such as SM Markets, National University, and SM Store also utilize PayRex’s online payment solutions. SM Investments is an early investor in PayRex.
While the ownership structure of PayRex has changed, all agreements between PayRex and their merchant partners will remain in full effect, including their promise to consistently deliver fast, secure and reliable services. All of the employees of PayRex, including its co-founders, will remain in PayRex.
“It is truly exciting to be moving into the next phase of PayRex together with Kollab. This partnership will help drive economic progress in the Philippines,” said Edwin Lacierda, Co-Founder & President of PayRex.
Established in 2014, Kollab is a premier digital transformation advisor for more than 1,100 companies across Southeast Asia. Kollab certified professionals collaborate with enterprise customers to achieve transformation through cloud-first and AI-first solutions and services. Kollab is certified as a Great Place to Work® and with distinction as one of the Best Workplaces™ in Asia. In 2024 and 2025, Kollab was ranked No. 1 among the Philippines Best Workplaces™.
PayRex was founded in 2023 by Philippines fintech thought leaders Jaime Hing and Edwin Lacierda. PayRex provides PCI DSS-compliant online payments, finance automation, billing statements, payment pages, and integrations with QR Ph, Shopify, and Billease, among others. They are known in the industry for transparent, straightforward, and an easy to understand pricing model with no hidden fees. PayRex is supervised and regulated by the Bangko Sentral ng Pilipinas.
