Philippines gets first crowdfunding platform
The Philippines is getting its first crowd funding platform after the country’s Securities and Exchange Commission has eventually approved the operation of a new lending portal.
The platform will operate as Investree Philippines, a 50:50 joint venture between Filinvest Development Corp, a diversified conglomerate with various interests, including finance, and Investree Singapore, a branch of Indonesia-founded peer-to-peer lending marketplace Investree.
The company aims to connect startups and small and medium enterprises (SMEs), as well as micro companies, with institutional investors to boost their capital growth, Filinvest said in a statement.
“We believe that Investree is a good channel for SMEs to tap in their drive towards reestablishing and growing their businesses and contributing to the country’s economic recovery and growth,” Josephine Gotianun-Yap, Filinvest’s president and CEO, said.
Expansion across Southeast Asia
Investree started operating this crowdfunding model in Indonesia in 2015 and then expanded to Thailand and now the Philippines.
The country has been rallying with its efforts to support SMEs and micro companies as they comprise 99.5 per cent of businesses in the Philippines, employing 62 per cent of total workers and adding 36 per cent to the country’s gross domestic product.
As of recently, Investree has bagged venture capital investments from Japan’s Mitsubishi UFG Financial Group, as well as from Indonesia’s BRI Ventures.
Investree, founded in 2015 in Indonesia, plans an expansion across Southeast Asia The Philippines is getting its first crowd funding platform after the country’s Securities and Exchange Commission has eventually approved the operation of a new lending portal. The platform will operate as Investree Philippines, a 50:50 joint venture between Filinvest Development Corp, a diversified conglomerate with various interests, including finance, and Investree Singapore, a branch of Indonesia-founded peer-to-peer lending marketplace Investree. The company aims to connect startups and small and medium enterprises (SMEs), as well as micro companies, with institutional investors to boost their capital growth, Filinvest said in...
The Philippines is getting its first crowd funding platform after the country’s Securities and Exchange Commission has eventually approved the operation of a new lending portal.
The platform will operate as Investree Philippines, a 50:50 joint venture between Filinvest Development Corp, a diversified conglomerate with various interests, including finance, and Investree Singapore, a branch of Indonesia-founded peer-to-peer lending marketplace Investree.
The company aims to connect startups and small and medium enterprises (SMEs), as well as micro companies, with institutional investors to boost their capital growth, Filinvest said in a statement.
“We believe that Investree is a good channel for SMEs to tap in their drive towards reestablishing and growing their businesses and contributing to the country’s economic recovery and growth,” Josephine Gotianun-Yap, Filinvest’s president and CEO, said.
Expansion across Southeast Asia
Investree started operating this crowdfunding model in Indonesia in 2015 and then expanded to Thailand and now the Philippines.
The country has been rallying with its efforts to support SMEs and micro companies as they comprise 99.5 per cent of businesses in the Philippines, employing 62 per cent of total workers and adding 36 per cent to the country’s gross domestic product.
As of recently, Investree has bagged venture capital investments from Japan’s Mitsubishi UFG Financial Group, as well as from Indonesia’s BRI Ventures.
