Philippine buy-now-pay-later platform Billease has doubled its credit facility with Rizal Commercial Banking Corporation (RCBC) to ₱1 billion, a year after the two firms signed an initial ₱500 million facility.

The expanded deal moves beyond straightforward lending into cash management, savings and foreign exchange services, deepening what was already a multi-product relationship between a top-tier Philippine bank and one of the country’s fastest-growing consumer lenders.

A new structure for fintech lending

What sets the facility apart is its use of the Personal Property Security Registry (PPSR), a centralised movable-asset registry under the Philippines’ Personal Property Security Act. Billease‘s arrangement is among the first in the country to use the PPSR to register a security interest over its consumer loan receivables, giving RCBC a first-ranking claim over a defined pool of assets.

The facility also includes over-collateralised loan-to-value structures, periodic refreshing of the underlying loans, and a defined payment waterfall — features designed to give RCBC ongoing visibility into the quality of the assets backing the facility.

“The strongest funding relationships are built on transparency and performance, not promises,” said Garret Go, CFO of Billease.

Backed by a profitable year

The expanded facility follows Billease’s third straight year of profitability. On an audited basis, the company grew FY2025 revenue by more than 80% to ₱8.7 billion and posted a net profit of ₱750 million, with its loan portfolio up more than 75% to roughly ₱11.3 billion. Total equity stood at around ₱5.6 billion against ₱6.7 billion in borrowings — a debt-to-equity ratio of about 1x.

Billease remains founder-led, with Georg Steiger, Huyen Nguyen and Ritche Weekun retaining a majority stake, and counts TPG’s The Rise Fund among its investors following a ₱4.3 billion Series C round in 2024.