BillEase, a digital consumer finance platform in the Philippines, has secured a strategic investment from TPG’s The Rise Fund. The sum was not disclosed.
This investment marks the beginning of BillEase‘s Series C equity round, with existing investor Burda Principal Investment also participating.
China International Capital Corporation Limited (CICC) acted as the exclusive financial advisor to BillEase during the Series C process.
BillEase offers various financial services such as personal loans, e-wallet top-ups, prepaid load, gaming credits, and bill payment.
It also includes a buy now, pay later (BNPL) option with interest rates and deals available from over 10,000 merchants and 600,000 QRPh-accepting merchants.
“The Rise Fund has built a global track-record of helping socially impactful companies scale and their investment will empower us to not only sustain our strong growth but also expand our product offerings to better serve the underserved and underbanked, enabling more Filipinos to improve their living standards.
Nearly 90% of our customers reported an improved ability to manage their finances after using BillEase, and this investment will help us extend that impact to millions more and support our growth as we aim to empower Filipinos to achieve greater financial security.”
said Georg Steiger, CEO of BillEase.
“Our investment into BillEase aligns with The Rise Fund’s pursuit to work with companies that aim to deliver social impact alongside business performance and strong returns.
With our global operations capabilities, deep sector expertise in financial services and thematic focus towards backing innovative businesses that drive greater financial inclusion, we look forward to helping accelerate BillEase’s growth and solidifying their position as the leading digital finance app in the market.”
said Chalothorn (Boat) Vashirakovit, Managing Director at TPG.
Featured image credit: Edited from Freepik
