The Securities and Exchange Commission (SEC) has granted the country’s first permanent license to operate as a crowdfunding platform to Investree Philippines Inc.
57909 The Commission En Banc approved Investree Philippines’ application for a permanent license to operate as a funding portal and a
SEC OKs first crowdfunding portal in PH
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(CNN Philippines, January 7) The Securities and Exchange Commission gave its go signal to Investree Philippines, Inc. to operate a crowdfunding platform, targeted to connect local startups with banks and lenders to secure cash.
In a statement Thursday, the SEC said the Commission En Banc last December 22 allowed Investree Philippines, Inc. to operate a lending-based crowdfunding platform.
The firm, a joint venture of Filinvest Development Corporation and Investree Singapore Pte. Ltd., is the first crowdfunding portal registered with the SEC since the rules took effect last July 2019. The crowdfunding activities will involve banks or qualified buyers as lenders, and will be limited to small, medium and emerging enterprises as borrowers, the SEC said.