The Rise Fund is the lead investor in the Series C funding round of the startup, which is a consumer finance platform.

Consumer finance app BillEase has revealed that TPG’s The Rise Fund is the lead investor in its Series C Equity Round. TPG is a known global alternative asset manager, and The Rise Fund is part of its global impact investing platform known as TPG Rise. 

“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,” TPG Managing Director Chalothorn (Boat) Vashirakovit said in a statement. 

“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,” he added. 

Senior Advisor for TPG Lito Camacho added, “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,” said Camacho. “BillEase is offering a solution that solves that pain point for many, giving access to flexible payment options in a safe and sustainable way.”  

Series C funding focuses on scaling the company, growing as quickly and successfully as possible, according to Investopedia. The company has already proven itself to have a successful business model, and in most cases, a company will end its external equity funding with Series C.

Burda Principal Investment to Participate

In addition to The Rise Fund, venture capital firm Burda Principal Investment is also participating in the funding round. The company was the Series B lead investor in BillEase. 

With its participation in the Series C Equity Round, the venture capital firm is reaffirming its support and belief in the platform’s vision. 

“BillEase’s impressive performance and consistent growth reaffirms our commitment to supporting their journey,” Managing Director and Head of Burda Principal Investment Asia Neil Fong said. “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.”

What is BillEase

Launched in 2017, BillEase is a consumer finance platform that aims to provide customers with on-demand credit as well as buy now, pay later products. Specifically, the platform offers the following to its customers:

• Personal loans
• E-wallet top-ups
• Prepaid load
• Gaming credits
• Bill payment

Since its launch, BillEase has partnered with over 10,000 leading merchants, payment gateways, and shopping carts. The platform has partnered with the likes of Lazada, Agoda, and Xendit. 

The founders of the platform, namely Georg Steiger, Ritche Weekun, and Huyen Nguyen, are among the 14 new Endeavor Entrepreneurs selected by Endeavor, a global community of, by, and for high-impact entrepreneurs.