SEEDBOX Technologies Inc. announced last Wednesday it received a $6-million investment by new investors SBI Ventures Singapore Pte. Ltd. and Philippine Equity Partners Inc. .
Rex Ma. A. Mendoza, founder and CEO of Rampver Financials and Insurance Agency Inc., the biggest independent mutual fund distributor in the Philippines, is also an investor and director of the firm. Seedbox was also responsible for digitizing the Personal Equity Retirement Account , the country’s voluntary pension system, which connects investors with administrators and product providers. The PERA has seen the number of personal retirement accounts double after a year since the introduction of the Seedbox PERA digital platform.
“We are excited to participate in the growth of the market for investment products in the Philippines,” Otsuka and Roxas were quoted in the statement. “Aside from capital, we will be able to provide key insights and technical resources that will help accelerate the growth of Seedbox.”