September 4, 2024 | 12:00am
MANILA, Philippines — BillEase, a digital consumer finance app, has signed an investment agreement with Texas Pacific Group (TPG)’s The Rise Fund, which will allow the fintech company to sustain its growth and expand product offerings.
With the investment, The Rise Fund is now leading BillEase’s Series C Equity Round. Existing investor Burda Principal Investment is also participating in the round.
“The partnership with TPG marks a pivotal moment for BillEase and is a testament to the strength of our vision and achievements,” Georg Steiger, CEO of BillEase, said in a statement.
“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 better serve the underserved and underbanked, enabling more Filipinos to improve their living standards.”
According to Steiger, nearly 90 percent of their customers said they were able to manage their finances more efficiently after using BillEase.
TPG’s investment will then help BillEase extend that impact to more customers and support growth as the finance app aims to empower Filipinos with greater financial security.
“We remain committed to providing financing solutions to the emerging middle class in the Philippines, a country with over 110 million people and supporting its more than 10,000 merchant partners,” Steiger said.
The investment into BillEase also aligns with TPG’s direction to work with companies that aim to deliver social impact alongside business performance and strong returns, Chalothorn Vashirakovit, managing director at TPG, said.
“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 their position as the leading digital finance app in the market,” he said.
China International Capital Corp. Ltd. also acted as the exclusive financial advisor to BillEase, providing strategic guidance and support throughout the Series C equity round.
“This investment by a renowned international fund like The Rise Fund is a result of BillEase’s mission-driven execution and groundwork built over the years,” said Jun Jie Chong, executive director of CICC Singapore.
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