BillEase's Financial Growth in the Philippines
April 29, 2024, 9:33 am
Location: Philippines, Metro Manila, Makati
Employees: 51-200
Founded date: 2017
Total raised: $16M
BillEase, a prominent consumer finance and buy now pay later app in the Philippines, has recently secured a substantial investment of US$5 million from Saison Investment Management Private Limited (SIMPL), a key player in the lending industry. This investment has expanded BillEase's credit facility, led by Helicap, to a whopping US$40 million, showcasing the company's rapid expansion and potential in the digital finance sector.
The investment from SIMPL highlights their commitment to providing financial solutions for underserved markets globally, with a specific focus on the burgeoning Philippines market. As the country emerges as one of the fastest-growing in Asia post-COVID, BillEase's innovative approach and comprehensive mobile lifestyle app have caught the attention of investors like SIMPL.
With a significant portion of the Philippine population still unbanked and transactions predominantly cash-based, BillEase's partnership with Helicap is driving financial inclusion by creating a credit history for a large segment of their customers. This move is not only beneficial for individuals and households but also for the broader economy, unlocking greater economic opportunities for all.
BillEase's success in achieving profitability in 2023, doubling its revenue year-over-year, and serving over 800,000 customers speaks volumes about its impact in the market. With a 47% return on equity that outperforms traditional banks in the Philippines, BillEase is well-positioned to continue its growth trajectory and bring affordable financial services to even more customers across the country.
The additional US$20 million in funding from the expanded credit facility will enable BillEase to further grow its loan portfolio and introduce credit products tailored to the needs of its expanding user base. This investment not only signifies confidence in BillEase's mission and future growth potential but also solidifies its position as a key player in driving financial inclusion and digital finance in the Philippines.
The investment from SIMPL highlights their commitment to providing financial solutions for underserved markets globally, with a specific focus on the burgeoning Philippines market. As the country emerges as one of the fastest-growing in Asia post-COVID, BillEase's innovative approach and comprehensive mobile lifestyle app have caught the attention of investors like SIMPL.
With a significant portion of the Philippine population still unbanked and transactions predominantly cash-based, BillEase's partnership with Helicap is driving financial inclusion by creating a credit history for a large segment of their customers. This move is not only beneficial for individuals and households but also for the broader economy, unlocking greater economic opportunities for all.
BillEase's success in achieving profitability in 2023, doubling its revenue year-over-year, and serving over 800,000 customers speaks volumes about its impact in the market. With a 47% return on equity that outperforms traditional banks in the Philippines, BillEase is well-positioned to continue its growth trajectory and bring affordable financial services to even more customers across the country.
The additional US$20 million in funding from the expanded credit facility will enable BillEase to further grow its loan portfolio and introduce credit products tailored to the needs of its expanding user base. This investment not only signifies confidence in BillEase's mission and future growth potential but also solidifies its position as a key player in driving financial inclusion and digital finance in the Philippines.