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 P50,000 to P1 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 P6 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.
