[L-R] BillEase co-founders Georg Steiger, Huyen Nguyen, and Ritche Weekun, and CFO Garret Go
BillEase, a digital consumer finance platform in the Philippines, has secured an undisclosed strategic investment in a Series C round led by TPG’s The Rise Fund.
Existing investor Burda Principal Investment also participated.
This investment will help BillEase support its growth.
“The Rise Fund has built a global track record of helping socially impactful companies scale, and their investment will empower us to not only sustain our strong growth but also expand our product offerings to serve the underserved and underbanked better, enabling more Filipinos to improve their living standards,” Georg Steiger, CEO of BillEase, said.
Also Read: BillEase nets US$5M more to grow loan portfolio, launch credit products
BillEase leverages machine learning and AI to build financial products while mixing traditional global credit underwriting best practices to meet customers’ needs. It offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bill payment, a buy-now-pay-later (BNPL) service and deals from over 10,000 merchants and over 600,000 QRPh-accepting merchants.
“In the Philippines, there remains a need among businesses and individuals for greater access to affordable financial products. Only 18.8 per cent of people in the Philippines can reportedly borrow money from a formal financial institution or money provider,” said Lito Camacho, Senior Advisor for TPG. “BillEase is offering a solution that solves that pain point for many, giving access to flexible payment options in a safe and sustainable way.”
In April, BillEase received US$5 million in credit facility from Saison Investment Management, the offshore lending arm of Japan’s Saison International.
In 2022, BillEase completed an up to US$20 million debt facility from Singapore-based fintech firm Helicap Securities.
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