Investree Philippines to close shop next year

MANILA, Philippines — Investree Philippines Inc., the country’s first crowdfunding intermediary and funding platform, is ceasing operations next year.

In a stock exchange filing, Gotianun-led Filinvest Development Corp. (FDC) said its subsidiary f(dev) Digital Innovations and Ventures Inc. and Investree Singapore Pte. Ltd. have approved the winding down of the operations of Investree Philippines.

Investree Singapore and f(dev) are the shareholders of Investree Philippines, which started operations in 2020 with the aim of empowering micro, small and medium enterprises by connecting them with investors who believe in their potential and provide them access to much-needed capital.

FDC said Investree Philippines would apply for the shortening of its corporate term up to Sep. 30, 2025.

“Investree PH expresses its gratitude to its stakeholders for their trust and support,” the company said.

FDC assured that Investree Philippines is working diligently to facilitate a smooth transition following due process in accordance with the regulations of the Securities and Exchange Commission (SEC).

“All its stakeholders, including investors, SME partners and employees, are being properly informed. The company will continue to facilitate the payment of notes according to the terms and conditions of its agreements,” it said.

Investree Philippines had secured approval from the SEC to operate the first licensed crowdfunding platform for SME financing in the country.

The platform has supported over 180 businesses and funded more than 800 applications across various industries as of 2023.