By being listed as an authorized registrar, crowdfunding intermediaries and funding portals will no longer be reliant on third-party institutions to assist potential investors with their application as qualified buyers.
Crowdfunding is a fundraising activity typically conducted by startups and SMEs, where the public can support or fund a business idea through an online platform.
The Securities and Exchange Commission (SEC) has allowed SeedIn Technology and Eastern Securities Development Corporation to act as crowdfunding intermediaries and operate crowdfunding portals, providing the country’s SMEs with more funding options.
Investree Philippines, a joint venture between Filinvest Development Corporation and Investree Singapore, is the first crowdfunding intermediary and funding portal registered with the SEC.
In separate advisories issued on Feb. 9, the SEC advised the public to exercise caution when dealing with Solmax Global Limited and Igniter 100, as well as BitAccelerate.
Investree Philippines, a joint venture between Filinvest Development Corporation and Investree Singapore, is the first crowdfunding intermediary and funding portal registered with the SEC since the Rules and Regulations Covering Crowdfunding took effect in July 2019.
