BillEase secures $5m funding from Saison Investment Management

By Gloria Mathias

BillEase, a consumer finance and ‘buy now, pay later’ app in the Philippines, has raised an investment of $5 million from Saison Investment Management Private Limited (SIMPL), the offshore lending arm of Saison International.

This latest funding round expands BillEase’s existing Helicap-led credit facility from $20 million to $40 million, which had already included participation from various investors such as the Helicap Income Opportunities Fund, several institutional credit investors, and high-net-worth individuals.

“Our investment in BillEase represents our only exposure to the growth in the Philippines’ credit sector at this moment and aligns with our commitment to providing financial solutions for the underserved segments of markets globally. The Philippines is emerging as one of the fastest-growing countries in Asia post-COVID, with a huge population that is rapidly digitizing. With this as a backdrop, we hope to build our presence in the market and play a catalytic role in enlarging the Philippines’s digital financing ecosystem to unlock greater economic opportunities for individuals and households,” shared Kosuke Mori, CEO of Saison International.

“We are impressed by the growth trajectory that BillEase is experiencing and its innovative approach to going beyond a pure BNPL platform into a comprehensive mobile lifestyle app. With 65% of the population unbanked and more than 80% of the country’s transactions still paid with cash, our partnership with BillEase through Helicap is driving financial inclusion by building a credit history for a large share of their customers and creating a meaningful impact for a broader segment of the population in the Philippines,” said Claudia Rojas, Head of SIMPL.

Garret Go, CFO of BillEase, 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.”

The additional $20 million in funding from the expanded facility will allow BillEase to rapidly grow its loan portfolio and launch credit products tailored to its users’ needs.