Manila, Philippines – Seedbox Technologies, Inc. (Seedbox), a wealth management platform providing access to investment products for Filipinos, has announced a US$6minvestment from new investors SBI VENTURES SINGAPORE PTE. LTD. (SBI VENTURES) and Philippine Equity Partners, Inc. (PEP).
Seedbox is a joint venture formed in 2016 by The ATRAM group, a Philippine asset and wealth management firm, and the Indivara group, an Indonesian IT and software firm. The platform allows consumers to become an investor with just a few clicks on their mouse.
According to the company, the new funding will support Seedbox’s rapid growth and allow the company to scale its operations with investments in upgrading its technology platform, enhancing its product suite, and expanding its team.
Meanwhile, Mike Ferrer, CEO of ATRAM Group, Jusuf Sjarrifudin, CEO of Indivara and Rex Mendoza, Founder and CEO of Rampver, stated, “The shareholders and management team of Seedbox welcome the entry of SBI and PEP, leading firms in their respective fields, as our new partners. With their expertise and experience across the region, SBI and PEP will be able to contribute greatly to Seedbox’s ability to meet Filipino investors’ growing needs for new investment products and access points.”
The fund-raising effort comes after a time of rapid expansion for the company, which saw the number of active users surpass 1 million and surpass the number of online stock trading accounts in the country. Seedbox introduced digital sachet investing, where new investors can invest for as little as $0.96. Seedbox was also responsible for the digitization of the Personal Equity Retirement Account (PERA), the country’s y pension system which connects investors with administrators and providers.
