BillEase bags undisclosed amount in Series C led by TPG

By Gloria Mathias

BillEase, the digital consumer finance platform in the Philippines, has announced that TPG’s The Rise Fund has signed definitive documentation to lead a 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. Existing investor Burda Principal Investment is also participating in the round.

“The partnership with TPG marks a 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 sustain our strong growth and expand our product offerings to serve the underserved and underbanked better, 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,” added Steiger.

“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 safely and sustainably.”