Manila, Philippines – Local open finance platform UBX has partnered with the Women’s Business Council Philippines (WomenBizPH) and mobile financing powerhouse SeedIn to empower Filipina women to become successful entrepreneurs.
The partnership entails the three companies collaborating in building a women-to-women (W2W) investment and lending portfolio. This will provide beneficiaries with financial tools such as investment products and credit lines to empower them in their journey to become entrepreneurs.
The network of top women business leaders and entrepreneurs of WomenbizPH will have priority to choose and act as investors for their chosen portfolio.
Meanwhile, UBX’s SeekCap, an online lending marketplace, will facilitate the beneficiary onboarding, while disbursements and payments will be coursed through i2i, the banking-as-a-service venture of UBX, and BUx, a payment gateway.
In addition, SeedIn will play the role of the primary lender. SeedIn will connect female investors to the portfolio both from WomenBizPH and its existing investor pool. Beneficiaries can request for a loan for around PHPP300,000 or investment in a portfolio with around PHP1,000.
WomenBizPH Trustee and Treasurer Ida Tiongson said, “With the help of our fintech partners UBX and SeedIn, what we hope to do with is to be able to provide opportunities for women led businesses to get funding and hence would have a chance not only to survive but thrive.”
Meanwhile, Mylene Abiva, chairperson of WomenBizPH, commented, “This partnership with UBX and SeedIn, fortifies our commitment to support local small businesses and this extends to the elimination of gender disparity as well. Women play a major role in the country’s microeconomy, and empowering them by providing alternative financial solutions will undoubtedly make a big impact in improving the economic landscape in the Philippines.”
Lastly, Anne Yosuico, chief product officer at UBX, said, “UBX recognizes the gender gaps that hinder women from reaching their maximum potential. Thus, our vision of finance for all means eliminating these obstacles by providing women with innovative digital business tools and credit options through open finance.”