BillEase, the leading digital consumer finance platform in the Philippines, said Tuesday it secured fresh funding from TPG’s The Rise Fund to expand its financing program.
Billease said in a statement The Rise Fund, part of TPG’s global impact investing platform, is one of the investors in the company’s Series C equity round, which is set to be finalized pending closing conditions.
“Our partnership with TPG represents a crucial milestone for BillEase, highlighting our vision and accomplishments. The Rise Fund’s global success in scaling socially impactful companies will enable us to sustain our rapid growth and enhance our product offerings. This investment will help us serve the underserved and underbanked more effectively, improving financial conditions for many Filipinos,” said Billease chief executive Georg Steiger.
Nearly 90 percent of BillEase’s customers have reported better financial management since using the platform.
The investment aims to extend that impact to millions more, support the company’s growth, and empower Filipinos with greater financial security.
“Our investment in BillEase aligns with The Rise Fund’s mission to support companies that deliver both social impact and strong business performance. With our global reach, sector expertise in financial services, and focus on innovative businesses that promote financial inclusion, we are excited to accelerate BillEase’s growth and reinforce its position as a leading digital finance app,” Chalothorn Vashirakovit, TPG managing director said.
TGP senior advisor Lito Camacho noted that there is significant demand in the Philippines for affordable financial products since only 18.8 percent of people can access loans from formal financial institutions.
“BillEase addresses this gap by providing flexible and sustainable payment options,” Camacho said.
Burda Principal Investments, the Series B lead investor in BillEase, who is also participating in this round, reaffirmed its commitment to the company’s vision and growth trajectory
BillEase provides personal loans, e-wallet top-ups, prepaid load, gaming credits, bill payment, and a unique buy now, pay later (BNPL) that offers competitive interest rates and deals from over 10,000 merchants.
The TPG Rise platform, with $19 billion in assets, is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial return.
Be the first to comment