SeekCap, the Philippines’ first digital lending marketplace and Asia’s Best SME Loan and Financing Product has partnered with Investree, Southeast Asia’s leading P2P lender to efficiently extend financing services to MSMEs in the Philippines. Investree brings two financing solutions to the SeekCap marketplace online: purchase order financing and invoice financing.
“Investree’s crowdfunding offering is relatively new in the Philippines. What differentiates our products is the ability to offer MSMEs access to short-term working capital based on the type of supply contracts they have with large or listed companies. There is no need for asset collateral and we have been able to assist new issuers get financing within a short period of time. All this is done with fair and transparent pricing. We believe this will complement Filipino MSMEs’ existing financing options and help them grow their businesses. Investree is excited to have the opportunity to work with Seekcap and the UBX ecosystem to promote supply chain financing products to MSMEs in the Philippines,” according to Kok Chuan Lim, Investree Philippines’ CEO and Co-Founder.
Business owners can simply log in to SeekCap and apply for any of Investree’s financing products online. With invoice financing, funds are provided through receivables such as invoices or billings. This provides MSMEs working capital while waiting for payments from partners or customers. With purchase order financing, funds are provided to help MSMEs fulfill large orders and pay suppliers without compromising cash flow.
“SeekCap compliments Investree’s strategy to empower MSMEs in the Philippines by helping extend its network of over 50,000 MSMEs currently registered on our platform. Together, SeekCap and Investree props up businesses and help close the USD221Bn MSME financing gap in the country by offering fast, transparent and non-collateralized access to financing,” John Januszczak, the CEO and President of UBX shared.
A play on the Filipino word “sikap”, which means hard work — SeekCap is essentially the go-to online marketplace for entrepreneurs “seeking capital” to run and grow their business. SeekCap has been constantly cited as the one-to-watch-out-for in the fintech space and was recognized globally as the Best SME Loan Product at The Asian Banker: 20th International Excellence in Retail Financial Services Awards in June 2021 for its impact on MSME development and financial inclusion.
SeekCap is developed by UBX, the fintech venture studio spun out of UnionBank of the Philippines.