UBX, the leading open finance platform in the Philippines, and Oh Crop!, the country’s #1 Adlai rice brand, have partnered to democratize access to agricultural value-chain financing for rice farmers nationwide.
Through this first-of-its-kind partnership, SeekCap, the digital lending marketplace venture of UBX, will be able to extend sustainable agri financing to Oh Crop! Adlai rice farmers to expand their operations and gain higher yields.
Founded and led by chief executive officer Rose Tolentino, chief operating officer Chari Trinidad-Mendoza, and co-owner celebrity chef Marvin Agustin, Oh Crop! assists rice farmers – from choosing the right seeds to plant to selling them to a wider marketplace – in shifting to farming Adlai.
“Our partnership with UBX allows us to provide rice farmers with a suite of technology-based services starting from seed selection to sustainable agri value-chain financing. Adlai has become a popular alternative to our staple rice and we expect the demand will continue to grow. Our partnership will enable rice farmers to shift to Adlai and empower existing ones to expand their operations,” Tolentino said.
Introduced at the height of the pandemic in 2020, Oh Crop! has become the leading Adlai rice brand in the country, being present in major online marketplace platforms as well as having retail stores in malls in Metro Manila.
“With UBX as our partner, we are confident that we will be able to further accelerate our growth. By joining hands with the leading open finance platform in the Philippines, we can strengthen initiatives that empower farmers with the right tools and knowledge, while giving them wider access to financing,” Trinidad-Mendoza said.
In 2021, Oh Corp! recorded a whopping 1,000 percent growth in sales, benefiting more than 50 farmer partners (individuals, groups and their families) throughout the country.
“Our goal at UBX has always been to include everyone and we believe that this partnership will Oh Crop! advances that purpose by bringing financial services — initially through SeekCap — closer to farmers, one of our nation’s unsung heroes,” UBx Managing Director for Banking and Lending Services Anne Yosuico said.
SeekCap, which was named as the Best SME Loan Product at The Asian Banker: 20th International Excellence in Retail Financial Services Awards in 2021, simplifies the processing of business loans through its digital platform.
Business loans may be processed in as fast as 24 hours, which is significantly faster than the minimum 30-day approval time for most banks.
In 2021, SeekCap processed over P6 billion in loans from more than 22,000 MSMEs nationwide.
“For us at UBX, equipping MSMEs, including our farmers, with financial tools and services is vital in economic growth and recovery — that is why we continuously implement strategies that democratize access to finance in many parts of the country through our pioneering open finance platform,” Yosuico said.