Finance app BillEase has banked a US$20 million debt facility from Singapore debt investment firm Helicap Securities. The raise brings the Philippine-based lender’s total amount raised to US$55 million in debt and equity, according to a statement.
BillEase’s platform allows users to acquire personal loans, top up their e-wallets, and purchase gaming credits. The firm also offers buy now, pay later services, enabling customers to pay for their online and offline purchases through installment plans.
The company also recently launched in-store QR code payments as well as payment links – commonly used in social commerce transactions – to expand its omnichannel presence.
Since its establishment in 2015, BillEast said it has disbursed more than 3 million loans. The company also said it’s been profitable since 2021 and has seen a 5x growth in credit volume during the first half of 2022 compared to the same period last year.
BillEase was founded by former McKinsey execs Huyen Nguyen, Georg Steiger, and Ritche Weekun. Earlier this year, the firm secured US$11 million in a series B funding round from investors such as Burda Principal Investments, Centauri, and Tamaz Georgadze – CEO and co-founder of European fintech unicorn Raisin DS.
Investment involves risk. Past performance is not necessarily a guide to future performance or returns. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down.
Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Helicap Pte. Ltd. (“Helicap”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Helicap, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or and independent legal, accounting, regulatory or tax advice, as appropriate.
