SeekCap maintains uphill growth in 1H, raises the bar for MSME financing

SeekCap, an online lending marketplace built by UBX, the leading open finance platform in the Philippines, recorded a 50-percent surge in the volume of loans disbursed during the first half of 2023. 

As it further strengthened partnerships in the public and private sector to reach more micro, small and medium enterprises (MSMEs) that need access to business loans, SeekCap disbursed a total of P688 million in loans in the first six months of the year. 

This represents a 50-percent increase from the P459 million recorded the year prior. 

By raising the bar for loan services, SeekCap’s innovative approach to digital financial solutions and its commitment to empowering MSMEs are responsible for its continuing success. 

“Traditionally, MSMEs are the most disadvantaged when it comes to financing, because the stringent requirements of banks for loans are geared against them. A big part of our mission towards financial inclusion involves democratizing loans in their favor to create new opportunities for Filipinos everywhere and to contribute to overall economic development,” UBX President and CEO John Januszczak said.

SeekCap seeks to grow 4x in 2022

SeekCap, an online lending marketplace built by leading open finance platform UBx, gears for a fourfold increase in loans processed in 2022, as it further strengthens its pursuit for partnerships with online communities, platforms, and governments to reach more micro, small and medium enterprises (MSMEs) who need access to business loans. 

This optimism comes on the back of SeekCap’s remarkable growth in 2021, when it processed over P6 billion in loans from more than 40,000 MSMEs. This year, SeekCap aims to process roughly P33.5 billion in loans, a target that is 6x higher than the volume last year.