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PawnHero is the first online pawnshop in Southeast Asia[1] that aims to solve the problem of expensive credit for base-of-the-pyramid consumers in emerging markets.[2] It was first launched in the Philippines in February 2015 to meet the quick loan needs of the country. Recent studies have shown that only two out of 10 Filipinos have bank accounts and less than five percent have credit cards.[3] Unlike traditional brick-and-mortar pawnshops, PawnHero accepts a wide range of pawnable items that include jewelry, luxury goods, electronics, home equipment, and other personal items as collateral for a secured loan.


About PawnHeroEdit

Philippine LaunchEdit

PawnHero was established to modernize the more-than-3,000-year-old pawnshop industry. It first launched in the Philippines as, an online pawning and selling website managed by PawnHero Pawnshop Philippines Inc.[4] It aims to offer a pawning process that is convenient, transparent, and discreet to address the problems or stigma associated to traditional pawning. It also leveraged on the large smartphone user population in the Philippines by turning any smartphone into an instant pawnshop.[5] PawnHero is a fully licensed pawnbroker registered with the Bangko Sentral ng Pilipinas with license number 27-7356-00-000 issued last January 23, 2015.[6]

PawnHero currently employs close to 50 employees in its two offices in the Philippines.

Expansion and GrowthEdit

With its steady growth in the Philippines, PawnHero is now looking into expanding into other markets within the Southeast region.

Board of DirectorsEdit

PawnHero was founded by David Margendorff, Nix Nolledo, and Manny Ayala. It was Margendorff’s idea to revolutionize the pawnshop industry and solve the problem of expensive credit in Southeast Asia.

Online Pawning PlatformEdit

PawnHero turns your smartphone into a secure, personal pawnshop: you take a picture of your precious item that want to pawn and in a few minutes, you will receive a price range for your items. Because of the use of technology, PawnHero is able to offer a lower interest rate than a traditional mortgage.[7] Through its website, PawnHero lets customers upload photographs of their items for an appraisal. This gives the customer the time to evaluate other options and determine what is best for them.[8]

According to Co-Founder Margendorff, PawnHero is able to offer half of the monthly interest of most physical pawnshops in the Philippines.

How PawnHero WorksEdit

Free appraisal in minutesEdit

Go to, click on the Get A Free Estimate button and submit photos and details of your items to get a free appraisal, then schedule a free pick up.

Same day cashEdit

Receive your cash the same day we appraise your item through your PawnHero debit card or bank account.

Get your item backEdit

Repay your loan and they return your item, fully insured and without any shipping cost[9]


PawnHero received strategic seed funding from Sulficio Tagud, CEO of 2GO, the biggest premier logistics company in the Philippines. In addition, PawnHero also received funding from 500 Startups, IMJ Investment Partners, Kaikaku Fund (Limited Partners include Softbank and Alibaba) and angel investors such as Paul V. Rivera, founder of Kalibrr. by PawnHeroEdit

In October 2015, PawnHero opened the PawnHero Shop where it sells unredeemed, authentic, and tested items online. Customers can pay using credit card, PayPal, or Cash On Delivery (COD) basis. This would be the initial groundwork for what would become by PawnHero.

Less than a year later, in September 2016, PawnHero launched by PawnHero. Continuing to sell unredeemed, tested, and authenticated items, enhanced the user experience in buying pre-loved brand items at bargain prices at up to 70% off market value. Customers can now shop on the site like any other online store, making by PawnHero one of the most advanced bargain shopping sites for pre-loved and authenticated items.


In March 2015, PawnHero won Judge's Choice in the Top 100 Startups Philippine Qualifiers for Echelon Asia Summit 2015. Three months later, it won the Judge's Choice Award as the Most Promising Startup in Asia at Echelon Asia Summit 2015 in Singapore.[10]

The PawnHero CardEdit

What is the PawnHero Card?Edit

The PawnHero Card is a debit card used to pay out the loan. It is issued in partnership with Security Bank. A customer receives a PawnHero Card for free upon pickup of their item during the first transaction. The card can be used to withdraw the cash proceeds from any ATM nationwide.

Who can avail of the PawnHero Card?Edit

Customers get their free PawnHero Card once they pawn an item for the first time. The debit card can be used for future transactions.

What are the perks of having the PawnHero Card?Edit

The card can be used at any BancNet ATM nationwide and use to pay in any BancNet-accredited stores and merchant. Customers can also use the card to pay for their loan or if they wish to renew their loan.


  1. ^ Solodkiy, Vladislav. "15 Asian fintech startups worth looking at". Retrieved 2016-01-13. 
  2. ^ Goh, Emily. "24 startups in Asia that caught our eye". Retrieved 2016-01-13. 
  3. ^ "Tech in Asia - Connecting Asia's startup ecosystem". Retrieved 2016-01-13. 
  4. ^ Balea, Judith. "Pioneer online pawnshop PawnHero comes to the rescue of Filipinos with cash needs". Tech in Asia. Retrieved 6 April 2015. 
  5. ^ Santos, Jose Bimbo. "Online pawnshop in the PH goes live". Retrieved 6 April 2015. 
  6. ^ Barreiro Jr., Victor. "PawnHero's online pawnshop goes live in the Philippines". Rappler. Retrieved 6 April 2015. 
  7. ^ "Nasihat untuk startup dari miliarder teknologi Nix Nolledo". Tech in Asia Indonesia. Retrieved 2016-01-13. 
  8. ^ "Pressure Creates Diamonds: 7 Startups Heating Up The Tech Industry". Forbes. Retrieved 2016-01-13. 
  9. ^ ", first online pawnshop in Southeast Asia". GMA News Online. Retrieved 2016-01-13. 
  10. ^ Noda, Tomas (June 25, 2015). "PH startup PawnHero Champions Echelon Asia Summit 2015". PH startup PawnHero Champions Echelon Asia Summit 2015. Deal Street Asia. Retrieved January 13, 2016.