Friday, June 14, 2024

BillEase raises $20 million for PH operations

Consumer finance app BillEase has announced a tie-up with Singapore-based fintech company Helicap Securities for a $20-million debt facility that will see BillEase’s debt and equity go up to $55 million.

“We are delighted to have secured a new facility which will further grow and expand our loan portfolio, demonstrating the confidence private investors have in our sustained growth trajectory and profitability. Being able to collateralize our loan book allows us to access funding to continue serving our fast-growing, underserved customer base,” said BillEase CEO and co-founder Georg Steiger.

“We are excited to support BillEase’s growth with this debt facility,” said Helicap Securities executive director Zhiwei Tan. “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,” he added.

BillEase is focused on growing its middle-income consumer base in the Philippines. It is currently accepted by over 1,000 big brands and small businesses, and is included in over half a dozen major payment gateways.

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