BillEase, the leading 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.
“The partnership with TPG marks a pivotal moment for BillEase and is a testament to the strength of our vision and achievements," said Georg Steiger, CEO of BillEase. "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.
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.”
“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,” said Chalothorn (Boat) Vashirakovit, Managing Director at TPG. “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.”
“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,” added Lito Camacho, Senior Advisor for TPG. “BillEase is offering a solution that solves that pain point for many, giving access to flexible payment options in a safe and sustainable way.”
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’s impressive performance and consistent growth reaffirms our commitment to supporting their journey," said Neil Fong, Managing Director & Head of BPI Asia. "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."
China International Capital Corporation Limited (“CICC”) acted as the exclusive financial advisor to BillEase, providing strategic guidance and support throughout the Series C equity round. “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. 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”, said Jun Jie Chong, Executive Director of CICC Singapore.