BillEase, a digital consumer finance platform in the Philippines, announced on Tuesday that TPG’s The Rise Fund has led a significant strategic investment in the company as part of its Series C equity round.
Existing investor Burda Principal Investments also participated in the round.
The investment, which marks a pivotal moment for BillEase, underscores the company’s vision and achievements, according to CEO Georg Steiger.
“The Rise Fund’s involvement will empower us to sustain our growth and expand our product offerings, further serving the underserved and underbanked in the Philippines,” Steiger said.
The Rise Fund, TPG’s global impact investing platform, focuses on companies that deliver social impact alongside business performance.
“Our investment in BillEase aligns with our mission to support businesses that drive financial inclusion,” said Chalothorn (Boat) Vashirakovit, Managing Director at TPG.
Lito Camacho, Senior Advisor for TPG, highlighted the unmet demand for affordable financial products in the Philippines, where only 18.8% of the population reportedly have access to formal financial institutions.
“BillEase addresses this need by offering flexible payment options in a safe and sustainable way,” Camacho added.
Burda Principal Investments, the lead investor in BillEase’s Series B round, reaffirmed its commitment to the company’s growth trajectory.
“We believe in BillEase’s ability to continue leading the digital finance sector in the Philippines,” said Neil Fong, Managing Director and Head of BPI Asia.
China International Capital Corporation Limited (CICC) acted as the exclusive financial advisor to BillEase for this Series C equity round.
Jun Jie Chong, Executive Director of CICC Singapore, noted the significant potential for growth in the Philippines, driven by its young, digitally savvy population.
The financial details of the investment were not disclosed.
Business News Asia