BillEase Credit Facility Grows to US$40M with New Saison International Investment

BillEase Credit Facility Grows to US$40M with New Saison International Investment

by April 25, 2024

Buy now, pay later (BNPL) BillEase has received a US$5 million capital injection from Saison Investment Management Private Limited (SIMPL), the offshore lending arm of Saison International Pte. Ltd.

This investment forms part of an expansion that has increased the credit facility of BillEase to US$40 million, overseen by Helicap and supported by a consortium of institutional investors and high-net-worth individuals.

Kosuke Mori, CEO of Saison International

Kosuke Mori

Kosuke Mori, CEO of Saison International, highlighted the strategic nature of the investment, noting,

“Our investment in BillEase is currently our only exposure to the growth in the Philippines’ credit sector, and aligns with our objective of providing financial solutions to underserved markets globally.”

He emphasised the rapid digitisation and potential economic growth of the Philippines as key factors in their strategy to enhance the local digital financing ecosystem and unlock economic opportunities for its residents.

Claudia Rojas

Claudia Rojas

Claudia Rojas, Head of SIMPL, praised BillEase’s development trajectory and its expansion from a straightforward BNPL platform to an inclusive mobile lifestyle application. She remarked,

“With a significant portion of the population unbanked and a majority of transactions in the country still conducted in cash, our collaboration with BillEase is fostering financial inclusion by establishing a credit history for many of their customers, which impacts a broader segment of the population.”

In 2023, BillEase reported achieving profitability and doubling its revenue year-on-year, serving over 800,000 customers with a 47% return on equity, outperforming traditional banks in the region.

David Z Wang, Co-founder of Helicap, shared his thoughts on the funding, stating,

“This additional capital will allow BillEase to accelerate its growth and offer more affordable financial services across the country.”

Garret Go, CFO of BillEase, reflected on the company’s recent performance and its future prospects, noting its readiness to expand its consumer loan offerings and provide accessible financial services to its growing user base, now surpassing 1 million.

This strategic investment and the consequent funding boost are set to significantly enhance BillEase’s capabilities, supporting the expansion of its loan portfolio and the introduction of tailored credit products to meet the needs of its customers.



Featured image credit: (from left) BillEase co-founders Georg Steiger, Huyen Nguyen, and Ritche Weekun, CFO Garret Go