Philippines’ Buy Now Pay Later (BNPL) platform BillEase announced that it has secured a US$20 million debt facility from Lendable, an emerging market credit provider.

This adds to the recent US$11 million Series B equity that it had raised from BurdaPrincipal Investments, MDI Ventures, KB Investment.

Beyond its BNPL offerings, BillEase also has products such as low-cost cash loans, e-wallet top-ups to all major wallets like GCash, PayMaya, Coins.ph, GrabPay, and ShopeePay, prepaid mobile load, and gaming credits.

The company said that it is growing rapidly with Q1 2022 volumes up almost 5x compared to the same period last year and it already achieved profitability in 2021.

“With Lendable’s support, we will be able to continue the strong growth in customer onboarding and expand our loan portfolio.

 

We share the same focus on creating financing solutions that serve the emerging consumer segment as the Lendable team and we are excited to work with them to further financial inclusion in the Philippines.”

said Georg Steiger, CEO and Co-Founder of First Digital Finance Corporation (FDFC) which operates the BillEase app.

“Lendable is extremely proud to be partnering with BillEase, a business that shares many of its values with us.

 

BillEase has grown tremendously as a business and we are keen to continue supporting their growth trajectory by providing sustainable and better access to financial products.”

said Hani Ibrahim, Lendable’s Chief Investment Officer.