SEC revokes Digido Finance certificate of authority and primary registration

Summary

In an order dated 9 May 2025, the SEC's Financing and Lending Companies Department revoked Digido Finance Corporation's certificate of authority to operate as a financing company and its primary registration. The SEC cited Digido's operation of branches in Bacoor, Kawit, Dasmariñas, and General Trias, Cavite, between July and September 2021 without first securing a certificate of authority. The SEC found that the booths advertised loans processable in 10 minutes through social-media posts, contradicting Digido's claim that they were for marketing purposes only. Digido filed a Motion for Reconsideration on 26 May 2025.