Financial app Helicap Securities, a Singaporean debt investment company, has provided BillEase with a $20 million USD financing facility. According to a release, the increase raises the lender’s total amount raised in debt and equity to US $55 million. The lender is situated in the Philippines.
Users may buy gaming credits, personal loans, and e-wallet top-ups via the BillEase platform. The business also provides buy now, pay later options that let clients use installment plans to pay for their physical and online purchases.
To increase its omnichannel footprint, the firm also recently introduced in-store QR code payments and payment links, which are often utilized in social commerce transactions.
According to BillEast, more than 3 million loans have been given since the company’s founding in 2015. The business added that it has been profitable since 2021 and that the volume of credit extended during the first half of 2022 increased by 5 times compared to the same period in 2021.
Former McKinsey executives Ritche Weekun, Georg Steiger, and Huyen Nguyen established BillEase. Tamaz Georgadze, the CEO and co-founder of European financial startup Raisin DS, and other investors helped the company raise US $11 million in a series B fundraising round earlier this year.
