Philippines-based Uploan, which offers an end-to-end salary loan management platform, has reportedly collected $15m in debt financing.
Uploan will has immediate access to $6m of the loan to support its growing demand, according to a report from e27.
The debt facility, which was supplied by Lendable, will enable Uploan to grow its loan book, and grow its balance sheet.
Founded in 2017, the company hopes to build a financially inclusive world with everyone able to access economic opportunities. The platform enables employers to offer their staff salary loans, salary advances, insurance and financial wellness tools.
The FinTech leverages employment history and HR data to offer people better credit scores and conditions.
It also offers financial education tools to teach employees good financial habits.
Uploan CEO Liam Grealish told e27, “Filipinos are facing unprecedented financial distress and many don’t have enough money to make ends meet despite being in employment.
“The debt facility we have closed with Lendable will be catalytic in enabling us to better meet the needs of our fast-growing employee pool. Working with progressive employers, we are committed to helping millions of Filipinos move out of financial distress over the coming years.”
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