Manila, Philippines – BillEase, a consumer finance app in the Philippines, has closed an up to US$ 20m debt facility arranged by Helicap Securities, a Singapore-based financial technology company providing private debt investment opportunities for accredited and institutional investors, bringing the total raised by the lending platform to US$55m in debt and equity.
BillEase said that it is well positioned to further expand the reach of its financial services in a market where low-cost credit is not accessible enough for many consumers. The Philippines is amongst the emerging markets with low credit card penetration but has a tech-savvy and digitally-forward population, creating more growth opportunities and capturing a largely underserved market for the company.
Earlier this year, BillEase raised US$11m in a Series B round led by BurdaPrincipal Investments, the growth capital arm of German media and tech company Hubert Burda Media. Centauri – a joint investment vehicle of MDI Ventures and KB Investment, 33 Capital, and Raisin DS CEO Tamaz Georgadze also joined the round. While in March, BillEase also raised US$20m in secured debt from the UK-based Lendable, an emerging market credit provider, to further accelerate the growth of its lending products.
Georg Steiger, CEO and co-founder of BillEase, commented that they are delighted to have secured a new facility which will further grow and expand their loan portfolio, demonstrating the confidence private investors have in their sustained growth trajectory and profitability.
“Being able to collateralise our loan book allows us to access funding to continue serving our fast-growing, underserved customer base. Our new funding comes at the right time as we develop and launch new products and continue to see strong growth. At the same time maintaining profitability means we can be a sustainable and long-term partner for consumers and merchants,” Steiger said.
Meanwhile, Zhiwei Tan, executive director of Helicap Securities, said that they are excited to support BillEase’s growth with this debt facility, and they are impressed by the company’s growth over the past 3 years and its mission to further financial inclusion in the Philippines.
“The rising acceptance of digital payments is changing the landscape of consumer lending and we are seeing BillEase as one of the few companies that can leverage and scale with the use of their AI-driven credit engine which allows them to offer consumer-centric, responsible financial products and highly personalized digital experience,” added Tan.
This year, BillEase has also launched its in-store QR payment to tap into payment transactions that usually happen offline as well as payment links which are now highly used in social commerce, allowing the company to offer an omnichannel shopping and payment experience for both customers and its merchants.