Cashalo, a digital financial services provider in the Philippines, has secured a loan funding facility of up to USD $75 million from Community Investment Management (CIM), a global private investment firm.

This funding is intended to support the expanding operations of Cashalo in the Philippines. It is also to support the company’s objective to extend access to credit.

Luke Stidham, President of Cashalo, commented on the agreement. “This partnership will enable us to accelerate our mission to expand financial inclusion and social mobility throughout the Philippines.”

The partnership with CIM coincides with Cashalo’s first anniversary as part of Empower Finance, a US-based fintech firm.

Over the past year, Cashalo has expanded its digital lending capabilities. The company has always aimed to improve customer access to financial services across the country. The company reports having disbursed nearly 5 million loans to Filipinos to date.

Bernhard Eikenberg, a Partner at CIM focusing on emerging markets, added that they are proud to support Cashalo’s mission in the Philippines. Bernhard mentioned that Cashalo’s data-driven approach, commitment to transparency, and inclusive strategy reflect the future of responsible digital lending.

Cashalo is also introducing an updated brand identity. This change accompanies the new funding and the company’s continued development.

With the new facility, Cashalo plans to further invest in its digital lending services, broaden its product range, and extend its reach into more communities across the Philippines.

The company aims to continue its role in the country’s digital financial landscape.

Featured image by Cashalo.