Open finance platform UBX and rice brand Oh Crop! have partnered to provide access to agricultural value-chain financing for rice farmers nationwide.
Through this partnership, SeekCap, the digital lending marketplace venture of UBX, will be able to extend sustainable agricultural 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.
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“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,” Tolentino said. “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.”
Introduced at the height of the pandemic in 2020, Oh Crop! is 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 Crop! recorded a 1,000% 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,” said Anna Yosuico, managing director for Banking and Lending Services, UBx.
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.