BillEase, the digital consumer finance platform in the Philippines, today announced TPG’s The Rise Fund has signed definitive documentation to lead a significant strategic investment in the company.
With the investment, The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, is leading BillEase’s Series C Equity Round, “with existing investor Burda Principal Investment also participating in the round.”
Georg Steiger, CEO of BillEase said:
“The partnership with TPG marks a pivotal moment for BillEase and is a testament to the strength of our vision and achievements. The Rise Fund has built a global track-record of helping socially impactful companies scale and their investment will empower us to not only sustain our strong growth but also expand our product offerings to better serve the underserved and underbanked, enabling more Filipinos to improve their living standards.
As noted in the update:
“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.”
Burda Principal Investments, the Series B lead investor in BillEase, who is “also participating in this round, reaffirmed its commitment to the company’s vision and growth trajectory.”
BillEase is a consumer finance app in the Philippines.
The company leverages machine learning and AI “to build financial products while mixing traditional global best practices in credit underwriting to meet the needs of its customers.”
BillEase offers personal loans, e-wallet top-ups, “prepaid load, gaming credits, bill payment, and a unique buy now, pay later (BNPL) that offers competitive interest rates and deals from over 10,000 merchants and over 600,000 QRPh-accepting merchants.”