Philippines – BillEase, a PH-based digital consumer finance platform, has announced that TPG’s The Rise Fund has recently embarked on a strategic investment in the company. This move enables TPG’s The Rise Fund to spearhead the firm’s Series C equity round, with existing investor Burda Principal Investment also participating in the round.
According to Georg Steiger, CEO at BillEase, the collaboration represents a crucial milestone for the company to expand their product offerings, thereby allowing more Filipinos to enhance their living standards.
In particular, he noted, “Nearly 90% of our customers reported an improved ability to manage their finances after using BillEase, and this investment will help us extend that impact to millions more and support our growth as we aim to empower Filipinos to achieve greater financial security.”
“We remain committed to providing financing solutions to the emerging middle class in the Philippines, a country with over 110 million people and supporting its more than 10,000 merchant partners,” ended Steiger.
Chalothorn (Boat) Vashirakovit, managing director at TPG, also remarked, “Our investment into BillEase aligns with The Rise Fund’s pursuit to work with companies that aim to deliver social impact alongside business performance and strong returns.”
“With our global operations capabilities, deep sector expertise in financial services, and thematic focus towards backing innovative businesses that drive greater financial inclusion, we look forward to helping accelerate BillEase’s growth and solidifying their position as the leading digital finance app in the market,” Vashirakovit explained.
Also speaking about the investment, Lito Camacho, Senior Advisor for TPG, commented, “In the Philippines, there remains a need among businesses and individuals for greater access to affordable financial products.”
“Only 18.8% of people in the Philippines are reportedly able to borrow money from a formal financial institution or money provider. BillEase is offering a solution that solves that pain point for many, giving access to flexible payment options in a safe and sustainable way,” said Camacho.
Meanwhile, Neil Fong, managing director and head of BPI Asia, stated, “BillEase’s impressive performance and consistent growth reaffirms our commitment to supporting their journey. We believe in their ability to execute and continue leading the digital finance sector in the Philippines, and we’re proud to back their ongoing success.”
Jun Jie Chong, executive director at CICC Singapore, said, “The Philippines is one of the fastest-growing economies in Southeast Asia. The young demographic, increasing affluence, and digitally savvy population currently underserved by incumbent financial services provides exciting growth for innovative fintech companies.
He further concluded, “This investment by a renowned international fund like The Rise Fund is a result of BillEase’s mission-driven execution and groundwork built over the years.”
