PH’s BillEase clinched $5m investment from Credit Saison lending arm
BillEase has achieved profitability in 2023 and delivered 47% return on equity.
Philippine-based buy now pay later app BillEase has received a $5m investment from Saison Investment Management Private Limited (SIMPL), the offshore lending arm of Saison International.
BilLEase offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bills payment, and buy now pay later solutions. It achieved profitability in 2023, when it doubled its revenue.
In 2023, BillEase also served over 800,000 customers, delivering 47% return on equity.
The additional US$20 million in funding from the expanded facility will allow BillEase to rapidly grow its loan portfolio and launch credit products tailored to the needs of its over 1 million users.
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This latest funding round reportedly expands BillEase's existing Helicap-led credit facility from $20m to $40m.
Prior to SIMPL, BillEase had already received capital from various investors including the Helicap Income Opportunities Fund, several institutional credit investors, and high-net-worth individuals.
Saison International is the overseas headquarters of Credit Saison, one of Japan’s largest lending conglomerates.
Saison International CEO Kosuke Mori expressed hopes to build their presence in the Philippine market on the back of this investment on BillEase.
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"We hope to build our presence in the market and play a catalytic role in enlarging Philippine’s digital financing ecosystem, to unlock greater economic opportunities for individuals and households,” Mori said.