Cashalo, a digital financial services provider in the Philippines, said Monday it secured a loan facility of up to $75 million from global private investment firm Community Investment Management (CIM).
The company said in a statement the funding would bolster its expanding operations in the Philippines and advance its objective of broadening access to equitable credit for millions of underserved Filipinos.
“This partnership will enable us to accelerate our mission to expand financial inclusion and social mobility throughout the Philippines,” said Luke Stidham, president of Cashalo.
“With CIM’s backing, we have an incredible opportunity to uplift even more Filipino communities by scaling our impact and ensuring more Filipinos are included in the financial system,” said Stidham.
“We’re proud to support Cashalo’s mission in the Philippines. Their data-driven approach, commitment to transparency, and inclusive strategy reflect the future of responsible digital lending,” said Bernhard Eikenberg, a partner at CIM for its emerging markets strategy.
The collaboration with CIM coincides with Cashalo’s first anniversary as a part of Empower Finance, a US-based fintech firm dedicated to democratizing access to fair credit.
Cashalo has significantly enhanced its digital lending capabilities, improving customer experiences and expanding opportunities for financial inclusion nationwide. To date, Cashalo has disbursed nearly 5 million loans to Filipinos.
As part of this new phase, Cashalo is unveiling a refreshed brand identity, which it says reflects its growth, momentum, and enduring mission. The redesigned logo features bold blue typography to convey stability and trust, complemented by golden-yellow sun rays symbolizing the optimism and resilience of the Filipino spirit.
With the new facility, Cashalo plans to continue investing in its core digital lending business, broaden its product offerings, and extend its reach into deeper, underserved Filipino communities.
“We look forward to continuing our investments in the Philippines to drive financial inclusion,” said Warren Hogarth, co-founder and chief executive of Empower Finance.
“Cashalo is uniquely positioned to lead the way in delivering scalable, data-driven credit solutions that truly make a difference in people’s lives,” said Hogarth.
