Rizal Commercial Banking Corp. (RCBC) has doubled its credit facility for consumer finance and buy now, pay later (BNPL) provider BillEase to P1 billion, supporting the company’s expansion of its services.

The partnership, which initially covered term lending, now also includes corporate cash management, savings and foreign exchange (FX) services, BillEase said in a statement on Thursday. The expanded scope means the relationship now covers both financing and banking services, rather than term lending alone.

“Doubling our facility with RCBC within a year and broadening it well beyond lending into cash management and FX reflects the kind of confidence that only comes from a track record both sides can underwrite,” BillEase Chief Financial Officer Garret Go said.

“The strongest funding relationships are built on transparency and performance, not promises, and RCBC has been an excellent partner in structuring something new for this market.”

BillEase’s effort to partner with Philippine banks forms part of its strategy to increase local funding, reduce its reliance on offshore debt and optimize overall capital costs. The move also follows the company’s acquisition of Rural Bank of Sta. Maria-Ilocos Sur, Inc., as it seeks to enter the regulated banking industry.

“This expanded partnership reflects RCBC’s confidence in BillEase’s performance and in the quality of its underwriting,” RCBC Head of Institutional Business Group Elizabeth E. Coronel said.

“By anchoring the facility in a registered, over-collateralized security through the Personal Property Security Registry (PPSR), we have built a transparent, well-protected structure that we believe can serve as a model for how Philippine banks support responsible, fast-growing fintech lenders.”

The debt facility uses the PPSR, the Philippines’ centralized movable-asset registry, giving RCBC an enforceable, first-ranking claim over a granular pool of high-quality assets.

“The comprehensive security package is designed to provide the lender with robust, transparent downside protection throughout the life of the facility,” BillEase said.

BillEase, which is operated by First Digital Finance Corp., recorded net profit of P750 million last year, while revenue grew by more than 80% to P8.7 billion. Its gross loan book expanded by over 75% to P11.3 billion, and total assets reached P13.3 billion.

The company said it is onboarding more than 150,000 new customers each month. Its total equity stood at about P5.6 billion at the end of 2025, while total borrowings amounted to P6.7 billion.

Last year, BillEase received a P4.3-billion investment led by TPG’s The Rise Fund, with participation from existing investor Burda Principal Investments.

“We don’t view 2025 as a peak, we view it as evidence that the platform works, and that there is significant underlying demand for affordable, well-structured credit in this country,” BillEase Co-Founder and Chief Executive Officer Georg Steiger said.

“The business scales without compromising on underwriting standards. Facilities like this one let us keep funding that growth locally, on improving terms, and the registry-backed, over-collateralized structure we built with RCBC is one we believe more Philippine banks can use.”

— A.M.C. Sy

Source: BusinessWorld