Lending app Cashalo has announced the signing of a $75-million loan facility with global investment firm Community Investment Management.
The fund will be used support Cashalo’s growing business in the Philippines and expand access to credit to millions of underserved Filipinos.
“This partnership will enable us to accelerate our mission to expand financial inclusion and social mobility throughout the Philippines,” said Luke Stidham, president of Cashalo.
“With CIM’s backing, we have an incredible opportunity to uplift even more Filipino communities by scaling our impact and ensuring more Filipinos are included in the financial system.”
Bernhard Eikenberg, a partner at CIM for its emerging markets strategy, added: “We’re proud to support Cashalo’s mission in the Philippines. Their data-driven approach, commitment to transparency, and inclusive strategy reflect the future of responsible digital lending.”
The CIM partnership comes as Cashalo marks its first anniversary as part of US-based fintech Empower Finance. In the past year, Cashalo has expanded its digital lending capabilities, increasing opportunities for financial inclusion across the country. To date, Cashalo has granted almost 5 million loans to Filipinos.
As part of this new chapter, Cashalo is introducing a refreshed brand identity that features bold blue typography to convey stability and trust, complemented by golden-yellow sun rays symbolizing the optimism and resilience of the Filipino spirit.
With the loan in place, Cashalo said it will continue to invest in its core digital lending business, expand product offerings, and reach deeper into underserved Filipino communities.
“We look forward to continuing our investments in the Philippines to drive financial inclusion,” said Warren Hogarth, co-founder and CEO of Empower Finance.
“Cashalo is uniquely positioned to lead the way in delivering scalable, data-driven credit solutions that truly make a difference in people’s lives.”
