Lending Company Asialink Scores P4 Billion Investment from Creador
Asialink Finance Corporation has secured a P4 billion investment from Creador, a private equity firm, the company announced on Wednesday (February 28). The investment gives Creador an 18 percent stake in Asialink and one seat on its board of directors.
The online financing company will use the funds to expand its lending capacity and support the growth of small and medium enterprises.
The fresh funds will also “help improve the lender’s operational efficiency, introduce international banking partners and leverage its expertise from investing in multiple NBFCs to support business innovation and automation.”
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Founded in 1997 with a capital of P3 million, Asialink is now a leading lender to SMEs, employing 700 personnel across 80 branches and thousands of independent loan consultants. It provides loans to businesses and individuals alike.
“With Creador, Asialink is primed for further growth to help the largely unbanked part of the business community,” Robert Jordan, Jr., CEO of Asialink. “This partnership is envisioned to strengthen the SMEs and make them a major contributor to economic growth just like in other developed economies.”
“Creador is delighted to partner with the Asialink Group, the leading provider of secured vehicle loans to SMEs in the country,” said Omar Mahmoud, managing director and country head of Philippines at Creador. “With our investment, hardworking business owners will gain access to the financial system as the company expands geographically, launches new products and leverages data to digitalize its services.”
The partnership underscores the commitment of both parties to drive Asialink towards sustained growth and market leadership, Mahmoud added.
Creador is a prominent private equity firm headquartered in Kuala Lumpur with a presence in South and Southeast Asia. In the Philippines, the company has invested in the likes of Angkas, Uno Digital Bank, the Dali chain of convenience stores, Mr. DIY, Petworld, and others. It has so far launched five funds since 2011, with the latest, Creador V, reaching $700 million.
Paulton & Company acted as Asialink's financial advisor for this transaction and Gorriceta as Legal Advisor to Creador.
