Investree Philippines operates a lending-based crowdfunding platform, where banks or qualified buyers extend credit to small businesses and emerging enterprises, the SEC said. The granting of the permanent license promotes crowdfunding as a “suitable investment,” it said.
A Filinvest Development Corp. venture has tied down a permanent license to raise funds for new companies and small businesses, as per the country’s Securities and Exchange Commission. Investree Philippines Inc., an endeavor among Filinvest and Investree Singapore Pte. Ltd., can now completely operate a funding portal and go about as a crowdfunding go-between, the SEC said in an assertion late Saturday. The organization has had a provisional license since January last year.
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