Ashurst advises Philippines BNPL startup BillEase on a series of Debt Facility arrangements
23 September 2022
The facility is a significant achievement for BillEase which was able to collateralize their loan book to access funding, and will be used to expand the company's loan portfolio as well as to develop and launch new products.
This transaction is part of a series of debt and equity facilities raised by BillEase; they first raised US$11 million through a Series B equity round in January this year with participants including MDI Ventures and BurdaPrincipal Investments. This was followed in March by a US$20 million financing facility provided by Lendable, a UK-based emerging market credit provider, which was advised by the same team at Ashurst.
The Ashurst team was led by partner Jean Woo. She was assisted by associate Leonard Lim.
The Ashurst Singapore banking & finance team has advised on a number of transactions in the fast-growing consumer lending sector in recent months, including having recently advised Citibank on the establishment of a USD 100 million securitisation facility, collateralised by SME loans originated by Validus (Southeast Asia’s leading SME growth financing platform) in Singapore.
