BILLEASE, a consumer finance and buy now pay later app in the Philippines, announced exceptional growth in 2023. The fintech company doubled its revenue to US$57 million and generated a net income of $7 million after serving over 800,000 customers.
BillEase doubled its growth in revenue and loan disbursements compared to the previous year, with a Return on Equity (ROE) of 47 percent, outperforming traditional banks in the Philippines, which typically have ROEs of five to 15 percent.
Its return on assets stood at an impressive 14 percent, showcasing the company’s efficient asset management and significant returns for its stakeholders.
BillEase became the first credit-focused fintech in the Philippines to integrate with Alipay+, enabling customers to use BillEase with global merchants like Agoda.
BillEase is also available through major payment gateways and aggregators in the region, including Xendit, 2C2P, PayMongo, Paynamics and iPay88.
This enabled BillEase to increase its merchant network more than thrice from over 3,000 in 2022 to over 10,000 in 2023.
Additionally, BillEase introduced a bills payment feature, allowing customers a more flexible payment plan to pay utility bills like Meralco (electricity), Maynilad (water) and many others through its partnership with Bayad, a major payment collection system in the country. / PR