Philippines-Based Consumer Finance App BillEase Scores $5 Million Investment From Saison

Consumer finance platform BillEase has secured a $5 million (about P288.5 million) investment from Saison Investment Management Private Limited (SIMPL), the offshore lending arm of Saison International, which is run by one of Japan’s largest lending conglomerates.

The latest funding round is set to double BillEase’s existing credit facility to $40 million. The company earlier raised $20 million from Singapore-based financial technology lending platform Helicap.

ALSO READ

Your Guide to the Six Licensed Digital Banks in the Country

Maya is One of World's Best Banks, According to Forbes

One of the most popular offerings of BillEase, which was founded in 2017 and is based in the Philippines, is its “buy now, pay later” service that offers competitive interest rates and deals. It also offers personal loans, electronic or e-wallet top-ups, bills payment, prepaid load, and gaming credits.

"This investment from SIMPL is a tremendous vote of confidence in BillEase's mission and future growth potential,” Garret Go, chief financial officer of BillEase, said. “Coming off a year where we achieved profitability and doubled our revenues, we are extremely well-positioned to scale our consumer loan offerings and expand access to affordable financial services across the Philippines.”

BillEase claims to have achieved profitability in 2023, with its revenue said to be doubling year-over-year, and its return on equity reaching 47 percent.

Claudia Rojas, who heads SIMPL, noted how “impressive” BillEase’s growth trajectory was, especially for a fintech startup. The new partnership is expected to pave the way for the launch of new credit products for its growing one-million user population.

“With 65 percent of the population unbanked and more than percent of the country’s transactions still paid with cash, our partnership with BillEase through Helicap is driving financial inclusion by building a credit history for a large share of their customers and creating meaningful impact for a broader segment of the population in the Philippines,” Rojas said.

The additional capital, likewise, signifies Saison’s first foray into the Philippine credit sector, which it said was one of the rapidly growing digital economies in Asia.