SeekCap, Investree Philippines partner to extend financing services for Filipino MSMEs

SeekCap and Investree extends financing services to Filipino MSMEs

The Philippines’ first digital lending marketplace SeekCap partners with Philippines’ first SEC approved crowdfunding platform Investree Philippines to extend financing services to Filipino MSMEs. Investree brings two lending solutions to the SeekCap marketplace online: purchase order financing and invoice financing.

Business owners can simply log in to SeekCap and apply for any of Investree’s financing products online with financing amounts ranging from PHP100k – PHP15M. With invoice financing, funds are provided through receivables such as invoices or billings. This provides SMEs a means to access working capital while waiting for payments from partners. With purchase order financing, funds are provided on the basis of contract or purchase orders from a listed company, an MNC, or GOCC to help SMEs fulfill larger orders, deliver goods and services on time, and pay suppliers without compromising cash flow. 


About Investree Philippines –Investree is on a mission to empower small and medium-sized enterprises (SMEs), seeing their great potential in leading and driving the economic growth of the country. The B2B lending marketplace pioneered in Indonesia has championed the provision of capital access to entrepreneurs, augmenting business financing gaps through a digital-powered ecosystem of trusted Lenders and Investors, and the SMEs we help. We are steadfast in replicating the same success story with Filipino business owners, bringing financial options tailored to their needs and growth goals. Through our innovative infrastructure and fair business practices, Investree will provide quick, secure, transparent, and supportive financing options to the entrepreneurs. To learn more about Investree, visit www.investree.ph, or contact cs@investree.ph.

SeedIn and SeekCap provide financing opportunities for Filipino MSMEs

SeedIn Technology Inc., the largest P2B crowdfunding platform in the Philippines and SeekCap, the first online lending marketplace in the country, celebrate almost a year of partnership. The collaboration between the two companies empower Filipino entrepreneurs nationwide to gain better access to financing.

Through SeekCap, borrowers can sign up online and apply for a SeedIn Business Loan worth up to PHP 10M with payment terms as long as 12 months. Since the launch of the partnership, thousands of loans have been processed and over 45,000 SMEs have been reached on SeekCap. This is only the start. With SeedIn’s effective alternative financing platform and SeekCap’s engaged customer base, the partnership will be setting new milestones in the future.

About SeedIn – Seedin is one of Southeast Asia’s leading Business Financing Platform where local businesses seeking short-term financing connect with individuals and businesses seeking short-term investments. SMEs can apply online and achieve their potential through Seedin’s alternative financing platform by reducing cash-flow gaps and enhancing their capital growth. For investors, Seedin provides alternative investments with annualized returns starting from 5% to 12% which come in the form of monthly repayments, and provides a platform for investments review and monitoring of crowdfunded projects.

About SeekCap – SeekCap is developed by UBX, the fintech subsidiary of UnionBank of the Philippines. SeekCap is the country’s first same-day, digital lending marketplace made for micro, small, medium sized enterprises (MSMEs). SeekCap works closely with lenders, credit bureaus and fintechs making applications seamless and approvals instant.

UBX Seekcap and Radiowealth fuels more MSMEs with partnership

UBX SeekCap, the Philippines’s first same-day approval lending marketplace, partners with leading financial services provider, Radiowealth Finance, to fuel MSMEs as the country and businesses rebound from the effects of the pandemic.

As a leading provider of financial services in the country for over fifty-five years, Radiowealth offers business loans for working capital, franchising, machinery and heavy equipment, and business expansion. Through its partnership with SeekCap, Filipino businesses can easily apply for a Radiowealth business loan online, with loan amounts ranging from P 50,000 to as high as P 5,000,000 payable for up to 12 months.

Radiowealth also provides access and a huge opportunity for micro businesses such as the sari-sari stores as a loan application only requires a valid government ID, proof of business registration (barangay or mayor’s permit), and proof of income (sales receipts or sales logbook).

Aside from providing a simple and convenient loan application experience, SeekCap compliments Radiowealth’s strategy to leverage digital platforms to promote financial inclusion and extend financial assistance to Filipino businesses at a time when it is needed the most. Through SeekCap’s application programming interfaces (APIs), Radiowealth is able to further automate their loan approval processes.

As expressed by Marites Estacio, one of the first SeekCap clients to have a loan disbursed from Radiowealth, “I felt so hopeless before because lots of requirements are needed in applying for a business loan, until I found out about SeekCap. Never thought it could be that easy to fill out a loan application form. They have fast and efficient customer service and most of all, the requirements are just minimal. And my chosen lender, Radiowealth finance, really helped me a lot for the additional capital for my business and I would highly recommend it to my friends and to my fellow business owners who are seeking a business loan. Thank you SeekCap and Radiowealth finance for the very quick loan disbursement. More power to the company!”

Despite the pandemic, Filipino business owners can find solace in knowing that SeekCap is their partner helping them restart or continue their businesses, propelling them to success.

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About SEEKCAP – SeekCap, the nation’s first online lending marketplace, is one of the ventures of UBX. UBX is the financial technology venture studio and fund of Union Bank of the Philippines. UBX is predicated on a future where financial services are invisible: seamlessly embedded into the experiences and activities that truly matter to businesses and people.

SeekCap is short for “seeking capital” and also a play on the Filipino word sikap, which means diligent, disciplined and hardworking, a trait that has always characterizes successful small business owners.

Visit http://bit.ly/SeekCaplendingmarketplace for more information or please contact support@seekcap.ph.

To read the original article from Metropoler, click here.

Visit SeekCap now: https://bit.ly/3wjDuWa

UnionBank, Maxicare and SeekCap partner to enable healthcare plans for MSMEs

Manila, Philippines – The COVID-19 pandemic continues to present challenges for businesses and transform the way they operate. In today’s business environment, it is important now more than ever to take care of the most important form of capital: People.

SeekCap, the first online lending marketplace in the Philippines, partners with Maxicare to offer loans to businesses availing of its healthcare plans for Micro, Small and Medium Enterprises (MSMEs). These healthcare plans will provide employees a high quality, full coverage HMO plan.

Maxicare customers, both existing and new, can apply for a UnionBank business loan online through SeekCap, UBX Philippine’s digital lending platform for Filipino businesses. These loans range from Php50,000 to Php1M and are repayable over a period of 36 months.

We are truly excited with this partnership with Maxicare as it enables Unionbank to extend its digital lending proposition to SMEs availing of Maxicare coverage and at the same time, serving an even greater purpose – to continue to keep their employees covered even during this pandemic”, said Manuel Santiago, Jr., Chief Mass Market and Financial Inclusion Executive.

Applying for a loan with SeekCap is simple and completely digital. Its ability to assist partner lenders in digitizing and automating their lending processes reduces processing time and lending costs. MSMEs may complete their application and receive approval in the comfort of their own home or office. By removing the need for physical paperwork and personal appearances at the bank, approvals that used to take days, if not weeks, are now completed within a single day. Over 40,000 MSMEs have registered on the platform since its launch, and over Php 2 billion in business loans have been processed.

Maxicare Healthcare Corporation is a pioneer in the HMO industry,\ providing comprehensive healthcare programs to Filipinos for over 30 years. Maxicare services over 1.5 million members across the country through company, family and individual plans.

Maxicare offers a portfolio of comprehensive HMO plans that cater to MSMEs: the Maxicare PLUS for companies with a minimum of 10 and up to 99 employees, with no limit to the number of enrollees or dependents; the Maxicare Starter Plan for micro businesses that have a minimum of 3 up to 9 employees, and can service up to 99 enrollees or dependents; and the Maxicare BusinessEssential, an affordable SME Healthcare Plan, that gives MSMEs the option to have an Outpatient Care Program or a full HMO program, for companies with a minimum of 3 up to 99 employees.

This partnership will enable continued business growth for MSMEs while keeping the best asset of every business – its employees – a priority. To know more about the program and avail of Maxicare’s HMO plans, visit https://www.maxicare.com.ph/healthcare-program-for-my-organization/

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About SeekCap- SeekCap is the first online lending marketplace in the Philippines. It was developed by UBX. UBX PH is the financial technology venture studio and fund of Union Bank of the Philippines. UBX is predicated on a future where financial services are invisible: seamlessly embedded into the experiences and activities that truly matter to businesses and people.

Learn more about the Maxicare SME Healthcare Plans x Unionbank Loan Program here.

To read the original article from Maxicare, click this link.

Visit SeekCap now: https://bit.ly/3e8HZwz

UBX recognized anew as Fastest Growing FinTech Company in South East Asia for 2021

Global Banking and Finance Review, a leading online and print finance publication, named UBX as the Fastest Growing Fintech Company in South East Asia for 2021. This is the second year in a row that UBX was recognized with this award.

With this back-to-back recognition, UBX demonstrates that it is living up to its mission of creating opportunity and access to financial services for everyone by designing solutions for digitally and financially underserved communities.

Union Bank of the Philippines (UnionBank) spun off its fintech venture studio and fund, UBX, in 2018, two years after embarking on its digital transformation. UBX envisions a world in which financial services are effortlessly integrated into the activities and experiences that really matter to businesses and people.

UBX’s i2i, the nation’s fastest growing payments network, digitally enables financial institutions and other community based financial service providers. In a timely response to the pandemic and the need to digitally enable distribution and access to funds, i2i built its Mobile ATM that brings ATM services to the community while also providing an additional source of income to businesses. Reducing travel and bringing cash distribution closer to home means safer access to funds while saving ATM customers time and money. Monthly i2i Mobile ATM volumes rose 3000% in the last six months of 2020. In 2021, i2i acquired over 1,500 new financial service providers and agents to the network via a joint venture with the Irish financial services technology giant Fexco.

Elsie Dizon, an i2i Mobile ATM sari-sari store owner partner, said, “Natutuwa ako kasi kahit wala pang isang buwan ang aking i2i MATM business, nadagdagan na ‘yung customers ko. At siyempre namimili din sila ng ilang items sa tindahan ko pagkatapos nilang mag-withdraw. Masaya din sila kasi merong mas malapit na ATM services sa kanila at kahit sa ibang barangay, dito rin sila nagwi-withdraw sa akin. Nagpapasalamat ako sa i2i Mobile ATM dahil nadagdagan ang kabuhayan ko.”

“I’m glad because even though my i2i MATM business is less than a month old, my customers have increased. And of course, they also buy some items in my store after they withdraw. They are also happy because ATM services are closer to them now and even in other barangays, they also withdraw from my store. I am really thankful to i2i Mobile ATM because it has helped grow my livelihood.”

UBX also has SeekCap, the country’s first online lending marketplace, which has the capacity and capability to facilitate lenders in scaling their lending processes through innovative technology, as well as enable business owners to access credit digitally with faster turnaround time and less hassle. Application, processing and disbursement is purely digital. To date, over 40,000 MSMEs have registered on SeekCap and the marketplace has processed over P2 billion worth of business loans.

As ecommerce sites grow in popularity, most Filipinos are shifting to online payments and going digital when it comes to shopping. UBX’s Bux and Sentro solutions empower both merchants and consumers through technology.

Bux is UBX’s end-to-end payment gateway for all businesses – from the smallest casual seller to the largest enterprise. With over 100,000 businesses signed up, it continues to grow during this pandemic. Recently features launched include Universal QR code, digital checkout and Shopify integration.

“Our store J&A Tickets and Tours is very happy working with BUX and Sentro. It enables our stores to secure payments from our clients thru our Facebook pages. We are able to help travelers to save money by accepting payments without remittance charges. We are able to grow the number of affiliate agents we have. We are able to leverage our services and maximize the benefits of our contracts with the suppliers. Thank you for empowering our store in the countryside.” from John Pineda, Owner of J&A Tickets and Tours

The country’s first free online Shop Builder, Sentro, celebrates its first year of delivering an all-in-one ecommerce platform for Filipino business owners to jump-start, run, and grow their enterprises. To date, it powers over 30,000 merchants across the country. Facebook Business Shop owners can link their stores to Sentro. This enables them to convert their stores from a marketing outlet to a full-fledged e-commerce store. Within minutes, Facebook Shop business owners can automatically accept payments, handle orders, and book deliveries through Sentro from their supercharged Facebook Shop.

UBX also has QLabs, a one-stop shop for web, mobile, and platforms design and development. It co-creates solutions for businesses, powered by a team equipped with full-stack development capabilities and end-to-end services. QLABs developed PERA HUB’s mobile application to implement their bills payment feature. This allows customers to use the PERA HUB application to pay bills to over 3000 merchants. UBX is the gateway to fintech in the Philippines.

With the uncertainties and challenges brought by the pandemic, one thing’s for sure – UBX continues to create digital platforms and marketplaces providing opportunity and access for digitally and financially underserved Filipino communities.

To read the original article from Manila Bulletin, click here.

SeekCap offers business loans up to PHP 20M to Alliance Software Inc. MSME clients

In pursuit of enabling more micro, small, and medium enterprises (MSMEs) to get access to capital, SeekCap, the country’s first online lending marketplace, has partnered with Alliance Software, Inc., one of the Philippines’s largest independent Filipino software development and business solutions companies, to offer the latter’s MSME clients business loans. 

“Alliance WebPOS customers can now apply for a business loan via SeekCap to help them expand or upgrade their businesses as the economy is starting to open up again. The Alliance and SeekCap partnership will provide a timely, in some cases immediate response to help small business owners with their short-term capital needs,” said Alliance Vice President, Mr. Te Jay Luna.

SeekCap, UBX’s online lending platform, has been a supporting pillar to MSMEs during these unprecedented times. Since launch, over 38,000 MSMEs have registered on the SeekCap platform and over P1.5 billion worth of business loans have been processed. 

With SeekCap, applying for a loan is easy and entirely digital. Its capacity and capability to help lenders digitize and automate their lending processes shortens processing time and lowers lending costs. MSMEs complete their application and get approval quickly within the comfort of their home or workplace. By eliminating submission of physical documents and personal appearance at the bank, approvals, which used to take days if not weeks, are processed within the day.

Alliance is a tool that helps businesses manage all information from a single portal, access reports in real-time, encourage safe and convenient shopping experience for online and offline customers, and offer worry-free solutions inclusive of support and maintenance. Alliance also recently launched its e-commerce platform that aims to power online stores with an all-in-one cloud solution that is easy to deploy, provides enhanced security, and is packed with features to accelerate sales. 

SeekCap will serve as a bridge between MSMEs on the Alliance platform and the different reputable lenders with the best loan offers. For more information, visit https://www.seekcap.ph/

To read the original article from FinTech Alliance Philippines, click this link.

UnionBank lends P1.5 billion to MSMEs via SeekCap

MANILA, Philippines — Aboitiz-led Union Bank of the Philippines Inc. has disbursed P1.5 billion worth of loans to micro, small, and medium enterprises (MSMEs) particularly those affected by the pandemic through its online lending platform.

UnionBank’s fintech arm UBX and Chinese financial conglomerate Ping An’s OneConnect Financial Technology Co. Ltd have enticed 38,000 small business owners to register in SeekCap since the first online lending marketplace in the Philippines was established in late 2019.

SeekCap has been a supporting pillar to MSMEs during these unprecedented challenging times.

With SeekCap, applying for a loan is easy and entirely digital. Its capacity and capability to help lenders digitize and automate their lending processes shortens processing time and lowers lending costs.

MSME owners complete their application and get approval quickly within the comfort of their home or workplace.

By eliminating submission of physical documents and personal appearance at the bank amid the pandemic, approvals that used to take days if not weeks are processed within the day.

UBX’s end-to-end digital lending technology allows the partner lenders to offer business loans as high as P20 million and interest rates as low as two percent to businesses nationwide.

In just a few clicks, Filipino business owners can apply for a loan product tailored to their needs, including finance for their inventory, equipment, payroll, marketing, receivables, and similar activities.

SeekCap has partnered with popular platforms used by MSMEs such as Lazada, FoodPanda, Sprout HR & Payroll Solutions, AlliancePOS, Taxumo, and Moneygment to tap and serve more MSMEs.

New lenders are constantly being added to SeekCap such as Bangko Kabayan and RAFI Microfinance joining UnionBank, Esquire, SeedIn, Right Choice Finance, and Zenith Capital.

Other ventures of SeekCap include i2i, offering digital transformation to financial institutions and community based financial service providers; Bux, an embeddable end-to-end payment platform with the most extensive network of payment options and locations in the Philippines; Sentro, a free online shop builder and QLab that offers digital transformation services to businesses.

To read the original article from Philippine Star, click this link.

Visit https://bit.ly/3dSKVgo for more information about SeekCap.

UBX’s SeekCap Named 2020 BAI Global Innovation Awards Finalist

UBX’s SeekCap has been selected as a finalist in the Societal and Community Impact Innovation category for the 2020 BAI Global Innovation Awards, a prestigious awards program that recognizes financial services organizations that have gone beyond the conventional to bring creative ideas to life, especially during a time of unprecedented change.

The 2020 BAI Global Innovation Awards finalists represent the most distinctive, impactful solutions in the global financial services industry, and UBX, the fintech spinoff of Union Bank of the Philippines, was selected from hundreds of nominations submitted.

UBX’s SeekCap is the Philippine’s first same-day approval loan marketplace for MSMEs in the country. Through SeekCap, multiple banks and lending institutions can swiftly create and launch loan products on the marketplace, thereby allowing MSME borrowers to choose what loan product best suits their business needs and apply for loans digitally and seamlessly on a single platform. Loans are approved on the same day, and disbursed within three working days. This is a drastic improvement on the turnaround time for traditional loan application processes in the country that usually take 30 to 90 days.

MSMEs who were previously unable to get access to financing because of being ‘thin-file’ or not having the bank statements and long credit history to show as proofs, can now be financially included. This is because SeekCap goes beyond traditional means and leverages alternative data sources to assess their credit worthiness.

This solution was built by UBX together with OneConnect Financial Technologies to provide an end-to-end digital lending marketplace that allows MSMEs to quickly ‘seek capital’ – search, compare and apply for credit digitally and seamlessly, and enjoy fast approval within a day. SeekCap is a play on the Filipino word ‘sikap’ which means perseverance, diligence, and hard work.  

“Now more than ever, MSMEs play a critical role in revitalizing the Philippine economy. Yet, MSMEs are acutely affected by access to credit and working capital, which has been further impacted under COVID where manual and paper-based lending practices are difficult and often impossible. With a fully digital experience and quick approvals, SeekCap addresses this gap. MSMEs don’t even need a bank account to apply. UBX is honoured by BAI’s recognition of our mission to provide opportunity and access for all,” said UBX President and CEO John Januszczak. Since its inception in 2011, the BAI Global Innovation Awards recognizes industry leaders from all regions of the world. It showcases what these innovators are doing to deliver new value to customers and employees, as well as to improve efficiencies and profitability for their organizations. To learn more about the BAI Global Innovation Awards and all of the finalists, please visit BAIGlobalInnovations.com

To read the original article, click this link.

Visit SeekCap now: https://bit.ly/2SODEqG

UBX wins Best Digital Community Impact Initiative Southeast Asia 2020

A digital revolution is underway in the Filipino finance market, with fintech champion UBX leading the charge. UBX serves as the fintech arm of local giant Union Bank of the Philippines (UnionBank), operating as a separate entity to manage tech initiatives, build platforms and make investments in fintechs. The UBX moniker is a clever representation of that mission statement: UnionBank to the power of x. It creates opportunities through collaborative partnerships and the application of innovative technology. The UBX line-up features UnionBank-incubated solutions such as the i2i and platforms such as BUX, Sentro and SeekCap.

BUX is an embedded eCommerce platform helping to grease e-commerce wheels. Sentro provides tools to build online stores in minutes. Blockchain-based i2i targets underbanked rural populations by connecting them to financial institutions across the country. The breakthrough solution has enabled citizens in hard-to-reach areas to access the government’s Covid-19 stimulus payments.

As a fintech, UBX is not constrained by traditional banking regulations and encourages out-of-the-box thinking to incorporate financial services into B2B, logistics and financial services ecosystems. The tactic has been proven to boost financial inclusion and promote growth.

UBX launched QLabs, where a talented tech team with blockchain and full-stack development capabilities helps companies on their own digital transformation journeys embed financial services into their consumers’ daily lives.

UBX has just celebrated its first anniversary, and the CFI.co judging panel is pleased to add another candle to the cake. UBX wins the 2020 award for Best Digital Community Impact Initiative (Southeast Asia).

To read the original article by CFI.co here.

UBX’s SeekCap among Phl’s top 7 fintech startups for 2020

Union Bank of the Philippines’ fintech unit UBX’s lending arm SeekCap was named as one of the top fintech firms in the country.

SeekCap, the lending marketplace of Union Bank of the Philippines (UnionBank)’s fintech arm UBX, has been cited as among top 7 fintech startups in the Philippines by  Startup Genome’s Global Startup Ecosystem Report.

This recognition comes barely six months after SeekCap was launched in November last year. SeekCap targets to cater to the underserved micro, small and medium enterprises (MSMES) who make up the backbone of the Philippine economy.

In partnership with Ping An’s associate firm OneConnect Financial Technology, SeekCap aims to shorten the turnaround time in loan application.

According to Startup Genome’s Global Startup Ecosystem Report, fintech companies now compose 15% of Manila’s startups.

SeekCap, being one of them, has made significant strides and is seen to perform even better in the coming months, the report said. Most recently, SeekCap partnered with e-commerce giant Lazada to help more MSMEs get access to financing. To date, over 6,000 MSMEs have signed up, with a 300% increase in loan applications posted during the first quarter.

Read the original article by The Tribune here.

UBX, Lazada team up on SME lending program

UBX, the fintech arm of UnionBank of the Philippines, has teamed up with e-commerce platform Lazada to offer credit lifeline to micro, small and medium enterprises (MSMEs) grappling with the coronavirus (COVID-19) pandemic.

UBX, through its lending marketplace, SeekCap, aims to help more MSMEs – such as vendors operating on Lazada’s platform – get access to financing.

To date, over 6,000 MSMEs have signed up on the lending marketplace, with a 300 percent increase in loans application posted during the first quarter, UBX announced.

In a statement, UBX said it’s “committed to assist MSMEs survive and get back on their feet after the pandemic,” adding that SeekCap would be a “vital instrument towards the achievement of this objective.”

SeekCap allows MSMEs to apply using a purely digital platform. They can complete their application and get updates on their approval remotely. There is no need to submit physical documents and appear at a bank to get approved.

This platform also seeks to allow MSMEs to apply for a loan product tailored to their needs, including financing for their inventory, payroll needs, expenses payables, and similar activities.

Loan applications through SeekCap can be initially approved the same day, which means that the documents submitted are still subject to review, and only until then will the disbursement take place. Currently, SeekCap offers business loans from P50,000 to P800,000 with a 2 to 3 percent monthly interest.

SeekCap continues to bring additional lenders to the platform. Progressive Bank, UnionBank and EON SME Credit Card are among the lenders to date.

For the original article from Inquirer.net, visit this link.

Try SeekCap Now: https://bit.ly/3xkSiVI