Filinvest-Investree JV gets nod to raise funds for PH startups, SMEs

Manila, Philippines. Photo: David Milmont/unsplash

Investree Philippines, a fintech joint venture between Philippine-listed Filinvest Development Corp and Investree Singapore, announced that it has received approval from the Securities and Exchange Commission to operate the first licenced crowdfunding platform in the country.

The permanent crowdfunding licence, the very first issuance to any company since the SEC released its implementing rules and regulations in 2019, allows Investree Philippines to fully operate a funding portal to raise capital for startups and small businesses in the Philippines.

“We hope that this platform can open doors for more businesses and serve as a meaningful launchpad for growing their enterprises,” said Filinvest Development Corp president Josephine Gotianun-Yap.

In a separate statement, the SEC said the granting of the permanent licence promotes crowdfunding as a “suitable investment”. Investree Philippines has had a provisional licence since January last year.

Investree Philippines said its platform aims to address the largely underserved MSME credit gap in the country, which is valued at over $200 billion. The company seeks to connect SMEs and startups with institutional investors through its marketplace platform.

It noted that SMEs have large financial requirements to be considered as microfinance but are too small to be effectively served by corporate banking models given issues such as lack of collateral and credit history, thus creating the financial credit gap for this “middle segment”.

“SMEs are the backbone of our economy, contributing 35% of the country’s GDP and employing more than 60% of the local workforce, yet this segment remains underserved,” said Xavier Marzan, managing director of Filinvest’s venture and innovations arm f(dev), who spearheaded the initiative.

Investree Philippines is a 50-50 JV of Filinvest and Investree Singapore. Filinvest is one of the leading diversified conglomerates in the Philippines while Investree is a pioneer in fintech lending in Indonesia.

The crowdfunding licence comes as local startups are expected to raise up to $2 billion over the next three years, according to a Gobi-Core Philippines Fund report.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.