Fintech firm Billease, known for its “buy now, pay later” (BNPL) services, has taken a major step forward by acquiring the Rural Bank of Sta. Maria – Ilocos Sur (RBSM).
This move marks Billease’s evolution from a consumer finance platform into a digital‑centric bank, offering not only credit but also deposit accounts and other banking services.
Through the acquisition, Billease will integrate the rural bank’s license into its ecosystem, enabling the company to serve a broader customer base under regulated banking operations.
Billease’s co‑founder and CEO, Georg Steiger, stated that the acquisition supports their goal of reaching a loan disbursement target of ₱15 billion next year and ₱20 billion the following year.
RBSM’s newly appointed president and CEO, Dennis Valdes, shared that the bank is currently upgrading its core systems to offer a full suite of digital banking products, expected to launch by the third quarter of next year.
With this acquisition, Billease is poised to expand its financial services — from lending to savings, transfers, and more — advancing financial inclusion for underserved Filipinos.