BillEase Expands Credit Facility with $5M Investment from Saison Investment Managementbill

The buy now, pay later (BNPL) sector has seen a recent resurgence in activity, with new players entering the market and investment pouring in. In Southeast Asia, BNPL payments are projected to reach US$232.5 billion in 2024. Adding to this momentum, Philippine BNPL provider BillEase has secured a US$5 million investment from Saison Investment Management Private Limited (SIMPL), Japan’s Credit Saison subsidiary.

BillEase, known in the Philippines for its consumer finance and buy-now-pay-later app, has received this investment as part of a broader credit facility expansion led by Saison Investment Management. This funding round boosts BillEase’s existing credit facility to US$40 million. 

Founded by former McKinsey executives, BillEase initially focused solely on providing buy now, pay later (BNPL) services. However, it has since expanded its offerings to include personal loans, gaming credits, and e-wallet top-ups, all accessible through its platform. 

With the recent injection of funds, the company aims to work on its loan portfolio and introduce new credit products, marking a strategic move towards diversification and growth.

Last year, BillEase witnessed growth, doubling its revenue to US$57 million and maintaining profitability with a net income of US$7 million, a surge from the previous year’s US$1.5 million. With this, the company adapts to market demands and effectively leverages its financial products in the Philippine consumer finance landscape.

David Z Wang, Co-founder of Helicap, spoke about SIMPL’s investment in BillEase, highlighting the potential of BillEase for financial inclusion and uplifting underserved communities in the Philippines. The infusion of capital from SIMPL will enable BillEase to accelerate its expansion and provide affordable financial services to a broader customer base across the nation. Wang emphasized the shared vision between Helicap and SIMPL in leveraging technology to generate economic opportunities.

Garret Go, CFO of BillEase, also described SIMPL’s investment as a strong vote of confidence in BillEase’s mission and future growth prospects.

Garret Go, BillEase’s CFO, said, “This investment from SIMPL is a tremendous vote of confidence in BillEase’s mission and future growth potential. 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.”

Helicap, established in 2018, has been instrumental in providing investment avenues in Southeast Asia to accredited and institutional investors. Notable companies such as Saison International and global asset management giants like Tikehau Capital and PhillipCapital have invested in Helicap. 

With a focus on financial firms, Helicap employs a unique credit assessment system and optimized loan structures to ensure consistent returns, boasting an impeccable operational record with zero defaults. 

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