Backed by Gotianuns, the First Filipino Crowdfunding Platform Gets Greenlight From SEC
Filipinos won’t have to resort to viral Facebook posts to gather funds for businesses and projects. The first crowdfunding portal in the country has just gotten approval from the Securities and Exchange Commission (SEC).
Called Investree Philippines Inc., the platform is a joint venture between Investree Singapore and Filinvest Development Corp. of the Gotianun family. In the same vein as Kickstart, Investree will give Filipino MSMEs and startups access to crowdfunding platform that will connected to local banks and lenders.
On Investree, funds can be given to startups in the following ways: as donations, or freely given from a supporter to startup; as rewards, in which the startup gives supporters a token, like a product, in return for financial support; as a loan, following typical lending practices, like a fixed time period for repayment and an interest rate; or as equities, in which the company sells shares in return for an investment.
It aims to connect entrepreneurs with supporters and patrons, and it gives Filipinos a chance to support local enterprises. Simplifying the process of crowdfunding, and giving it a wider audience, Investree Philippines is part of the biggest Investree network.
An Indonesian peer-to-peer lending company, Investree bagged a $23.5 million (P1.13 billion) series C investment from Mitsubishi UFJ’s MUIP and Bank Rakyat Indonesia’s BRI Ventures in early 2020. The investment was used to fast-track its brand in Southeast Asia, in countries like the Thailand and the Philippines.