Netbank Ties up With Indonesia’s Investree of Offer SME Loans to Filipinosby Fintech News Philippines July 9, 2021
Banking as a service platform Netbank has partnered with Indonesian SME lender Investree to expand loan offerings to SMEs in the Philippines.
Investree Philippines aims to address the largely underserved US$200+ billion MSME credit gap in the Philippines by connecting SMEs with institutional investors through its marketplace platform.
Both entities are collaborating to provide account opening services will allow Investree’s clients to finance their trade receivables, giving them vital cash to accelerate their growth.
Investree Philippines is a fintech-based joint venture company between the Gotianun-led Filinvest Development Corp. (FDC) and Investree Singapore that received approval from the Philippines’ Securities and Exchange Commission (SEC) to operate the first licensed crowdfunding platform for SME Financing in the country.
Jaymar Mendoza, Head of Operations and Co-Founder of Netbank said,
“The SME lending market is a huge opportunity and we believe this partnership has the capacity to expand rapidly. We are looking forward to supporting Investree as they bring more innovation to the market.
A partnership between a regulated bank and an alternative lender is very powerful. Banks bring balance sheet management experience and processes, alternative lenders bring deep understanding of their clients. We look forward to working with many other similar companies.”
Kok-Chuan, Lim, CEO of Investree Philippines added,
“Netbank provides an important ‘banking-as-a-service’ to improve our service level for our clients.
It allows us to further digitise our offerings and better manage credit risks for our investors. Investree is partnering with regional digital banks for channeling funds into MSMEs.”