The Rise Fund partners as investor to BillEase

PHILIPPINE digital finance platform BillEase has secured a new strategic investment from The Rise Fund of global alternative asset manager TPG to further boost its growth and widen the reach of its financial inclusion program.

In a statement on Tuesday, a BillEase official announced that The Rise Fund will lead its Series C Equity Round, with current business partner Burda Principal Investment also taking part.

“The partnership with TPG marks a pivotal moment for BillEase and is a testament to the strength of our vision and achievements,” BillEase Chief Executive Officer Georg Steiger said, adding that details including the amount of TPG’s investment cannot be disclosed due to a confidentiality agreement.

As of August, BillEase’s annual revenue run rate has reached $90 million.

Steiger noted that The Rise Fund has a proven track record of helping socially impactful companies grow, and that its investment will help BillEase continue growing.

He added the new funding will also expand BillEase’s product offerings for underserved and underbanked to help improve living standards for more Filipinos.

“Nearly 90 percent of our customers reported an improved ability to manage their finances after using BillEase. The investment will help us extend that impact to millions more and support our growth as we aim to empower Filipinos to achieve greater financial security,” Steiger said.

The Rise Funds are a key part of TPG’s global impact investing platform, TPG Rise, which was founded in 2016. The funds are invested in high-potential, mission-driven companies aiming to meet the United Nations’ Sustainable Development Goals.

The money is used to help make an impact on climate, education, food, financial inclusion, health care and other vital services.

Chalothorn Vashirakovit, TPG managing director, said investing in BillEase supports The Rise Fund’s goal of partnering with companies that deliver social impact and strong business returns.

“With our global operations capabilities, deep sector expertise in financial services and thematic focus toward backing innovative businesses that drive greater financial inclusion, we look forward to helping accelerate BillEase’s growth and solidifying its position as the leading digital finance app in the market,” Vashirakovit pointed out.