(L-R) BillEase co-founders Georg Steiger, Huyen Nguyen, and Ritche Weekun, and CFO Garret Go
BillEase, a consumer finance and buy-now-pay-later app in the Philippines, recently secured a US$5 million credit facility from Saison Investment Management, the offshore lending arm of Japan’s Saison International.
This funding round expands BillEase’s existing Helicap-led credit facility to US$40 million, with participation from various investors including the Helicap Income Opportunities Fund, institutional credit investors, and high-net-worth individuals.
Also Read: Helicap joins Filipino consumer lender BillEase’s cap table with US$20M debt facility
The additional funding will enable BillEase to expand its loan portfolio and introduce credit products tailored to the needs of its one million users.
“After achieving profitability and doubling our revenues last year, we are well-positioned to scale our consumer loan offerings and provide affordable financial services to more people in the Philippines,” said Garret Go, CFO of BillEase.
Using machine learning and AI, BillEase offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bill payment, and a buy now, pay later (BNPL) service through partnerships with over 10,000 merchants.
The company reported profitability in 2023, with doubled revenue year-over-year and serving over 800,000 customers.
“The Philippines is experiencing rapid digitalization and economic growth post-COVID, creating opportunities for us to expand our presence in the market and enhance the country’s digital financing ecosystem,” said Kosuke Mori, CEO of Saison International.
“Our partnership with BillEase through Helicap is driving financial inclusion by establishing credit history for many customers and making a positive impact on the Philippine population,” added Claudia Rojas, Head of SIMPL.
Also Read: This e-credit card allows Filipinos to buy big-ticket items online with easy instalments
“We are excited to have SIMPL as an investor in BillEase,” said David Z Wang, Co-founder of Helicap. “Their investment highlights the potential of BillEase to promote financial inclusion and uplift underserved communities in the Philippines. With this additional capital, BillEase can accelerate its growth and provide affordable financial services to more customers across the country.”
In September 2022, BillEase secured up to US$20 million in debt facility from Helicap Securities, bringing its total raised to US$55 million in debt and equity. This included a US$11-million Series B round led by BurdaPrincipal Investments earlier that year.
Prior to this, the company raised US$20 million in secured debt from UK-based Lendable.
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