Fintech company Skyro has achieved a significant milestone in the Philippines, announcing it has disbursed over 1 million loans with a total value of approximately PHP 11 billion since its launch in 2022. The firm attributes this rapid growth and expansion to the strength of its partnerships with local merchants, financial institutions, and various platforms.

Skyro has cultivated an extensive network across the country. Its current collaborations include more than 1,500 offline merchants, over 100 online merchants, at least 5,000 point-of-sale (POS) locations, and 13 major brand partners, featuring prominent retailers like Abenson, Robinsons Appliances, Emcor, Puregold, and Western Appliances.

Further fuelling its expansion, Skyro has secured credit facilities from key financial institutions such as Sterling Bank and PBCom. To enhance accessibility and convenience for Filipino customers seeking loans, the company has also formed strategic alliances with PalawanPay and 7-Eleven.

Skyro Co-Founder and Co-CEO Nasim Aliev emphasised the company’s core mission.

“Skyro remains committed in providing happiness, hope and financial support to Filipinos by expanding and strengthening partnerships that align with Skyro’s vision of a more inclusive financial ecosystem in the country,” he said.

Partners have reported tangible positive results from these collaborations, benefiting from Skyro’s flexible financing options, which lead to increased sales, more customers, and higher repeat visits.

Notably, POS partners have seen impressive growth, with an average increase of 20% to 25%, achieving four to five times growth from onboarding to breakout within their first year, and registering 13% to 15% year-on-year growth specifically in POS-driven sales.

Featured image by jcomp on Freepik.