In separate developments from SE Asia, fintech startup Investree Philippines has bagged the approval to operate a crowdfunding platform for SME financing in the country while Cambodian VC Obor Capital has invested a six-digit sum in Animal Doctors International (ADI).
Investree Philippines to operate crowdfunding platform for SME financing
Investree Philippines, a fintech JV between Filinvest Development Corp and Investree Singapore, has obtained the approval from the Philippines’ Securities and Exchange Commission (SEC) to operate a licensed crowdfunding platform for SME financing in the country.
It is the first such approval to any company since the SEC released its rules and regulations in 2019, per a statement.
Investree Philippines is seeking to provide financing solutions connecting SMEs and startups with institutional investors through its marketplace platform. According to the statement, there is a $200-billion MSME credit gap in the Philippines.
Investree co-founder & regional CEO Adrian Gunadi said FDC’s ecosystem including Eastwest Bank and their knowledge of the local market will help the process of connecting lenders and SMEs become more seamless.
Investree recently expanded its regional reach to Thailand and the Philippines.
Cambodian VC Obor Capital backs Animal Doctor International
Obor Capital, a Cambodian venture capital fund, has injected a six-digit sum in the pre-Series A funding round for Animal Doctors International (ADI), a provider of veterinary and pet travel services. ADI has one clinic in Vientiane, Laos and two in Ho Chi Minh City.
With the investment, ADI plans to open its fourth clinic in Hanoi and continue its expansion across the region.
ADI is Obor’s sixth investment to date.
Last September, DealStreetAsia reported that Cambodia-based VC firm and fund manager OBOR Management was on track to raise $30 million for its evergreen small and medium enterprises fund OBOR Capital.