PH startup BillEase secures $20m debt facility from Helicap

BillEase, a consumer finance platform based in the Philippines, announced that it has closed an up to $20 million debt facility arranged by Singapore-based fintech company Helicap Securities.

Earlier this year, BillEase raised $11 million in a Series B round led by BurdaPrincipal Investments, the growth capital arm of German media and tech company Hubert Burda Media. Centauri – a joint investment vehicle of MDI Ventures and KB Investment, 33 Capital, and Raisin DS CEO Tamaz Georgadze also joined the round.

In March, BillEase also raised $20 million in secured debt from the UK-based Lendable, an emerging market credit provider, to further accelerate the growth of its lending products.

BillEase is an on-demand credit and finance app / platform that provides different types of financial services such as personal loans, e-wallet top-ups, prepaid load, and gaming credits as well as buy now, pay later which allows customers to pay for their purchases online and offline in interest-free or interest-bearing installment plans.

It is currently accepted as a payment method by over 1,000+ major brands and small businesses and is offered by 7 major payment gateways in the country.

“We are delighted to have secured a new facility which will further grow and expand our loan portfolio, demonstrating the confidence private investors have in our sustained growth trajectory and profitability. Being able to collateralize our loan book allows us to access funding to continue serving our fast growing, underserved customer base,” said Georg Steiger, CEO and Co-Founder of BillEase.

BillEase is well positioned to further expand the reach of its financial services in a market where low-cost credit is not accessible enough for many consumers.

The Philippines is among the emerging markets with low credit card penetration but has a tech-savvy and digitally-forward population, creating more growth opportunities and capturing a largely underserved market for the company.

This year, BillEase launched its in-store QR payment to tap into payment transactions that usually happen offline as well as payment links which is now highly used in social commerce, allowing the company to offer an omnichannel shopping and payment experience for both customers and its merchants.

“Our new funding comes at the right time as we develop and launch new products and continue to see strong growth. At the same time maintaining profitability means we can be a sustainable and long-term partner for consumers and merchants,” Steiger added.