Over 8,000 Partner-Vendors to Receive Assistance from foodpanda and UBX's SeekCap
Leading online food delivery platform
foodpanda announced a partnership with UBX, the Philippines' leading Open
Finance platform, through its lending solution SeekCap to
provide loan assistance to thousands of foodpanda vendors in Visayas and
Mindanao who were affected by Typhoon Odette.
Under the partnership, over 8,000
partner-vendors of foodpanda will be assisted in availing loans worth PHP50,000
to PHP1 million from SeekCap, which provides affordable and
accessible credit to micro, small, and medium enterprises (MSMEs) through its
online lending marketplace.
According to foodpanda managing director
Daniel Marogy, the initiative is a continuation of foodpanda’s support for
sectors affected by the December 2021 typhoon, with foodpanda having already
donated over PHP6 million in aid to affected communities, foodpanda employees and
riders shortly after Odette devastated many areas in Visayas and Mindanao.
“While Odette is long gone, the damage it
caused continues to be seen and felt in many towns and cities in the country.
And while we’ve seen many encouraging signs of recovery, there are still plenty
of small businesses that have been hit hard and continue to struggle,” Marogy
said. “We’re committed to help our affected partners in their rebuilding
journey and provide the support they need to help them get back on their feet.”
Marogy noted that Typhoon relief is one of
the company’s focus areas for this year, adding that “we know that rebuilding
is a long, continuous process and not just a single step, and we are here for
our partners for as long as they need our help.”
For its part, UBX reiterated its commitment
to drive financial inclusion and help MSMEs to thrive despite the pandemic and
disasters such as Typhoon Odette.
“With over 99 percent of businesses in the
country considered as MSMEs, we recognize the importance of this sector to our
country, and we know the challenges they face not only in getting loans, but
also in being able to rebound from natural disasters,” UBX said.
“We are one with foodpanda in providing
these valuable lifelines to their partners, and one with the country in helping
as many of our kababayans to succeed in their businesses,” UBX added.
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