SEC revokes Digido's license, Unapay, Unacash over unlicensed branches

The Securities and Exchange Commission (SEC) has revoked the corporate registration and financing license of online lending platform Digido Finance Corp.

Digido is contesting SEC's decision, filing for reconsideration after being accused of operating four branches in Cavite without proper permits.

Despite claiming these locations were merely 'exhibition booths' for marketing purposes, SEC noted that screenshots from Digido’s Facebook posts encouraged loan applications at these sites.

The company denies the allegations, stating that the branches were only temporary setups used for marketing purposes.

In addition to Digido, the order also covers Unapay and Unacash, two other online lending platforms owned by Digido Finance Corp.