Online pawn shop PawnHero has won over global investors.

The Philippine startup fintech has secured an undisclosed funding in a pre-series A Round led by the Kaikaku Fund, a SoftBank affiliate.

Other participants in the round were global investors 500 Startups, and IMJ Investment Partners.

Several venture capitalists and angel investors from the Asia and Silicon Valley have steadily followed suit, said PawnHero co-founder and chairman David Margendorff.

Launched in February 2015, PawnHero had received funding from Sulficio Tagud, CEO of 2GO, the largest logistics provider in the Philippines.

The startup company said it will use new funds to hire talent and continue its marketing efforts.

“Even more Filipinos will know that they can now pawn online without leaving their homes, at half the interest of what other pawnshops charge,” Margendorff said.

“PawnHero offers greater transparency, fairness and convenience, while addressing the borrowing needs of a majority connected yet unbanked or underbanked population,” said Teddy Himler, VP of Kaikaku Fund. Kaikaku invests in leading Philippine Internet and consumer companies.

IMJ Investment general manager Yasu Seo said the Philippines is the ideal market to start PawnHero’s service, as pawning is the major financing method instead of banking for its people.

500 Startups managing partner Khailee Ng said most startup investors don’t go to pawnshops to get loans but millions of people in Southeast Asia do every day.

“PawnHero will literally change their lives, and in the process, the region’s next big startup success story will emerge,” Ng said.

PawnHero won the “Most Promising Startup in Asia 2015” award in the Echelon Asia Summit in Singapore and the 2016 Hack Osaka pitch contest in Japan.