Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Two investors commit $200 million to inclusive Filipino lender Cashalo



ImpactAlpha, June 11 – Only about 30% of Filipinos have a bank account and to access credit, they often have to resort to predatory lenders and pay punishingly high interest rates.

Cashalo offers small loans to individuals on a mobile platform using non-traditional credit scoring methods to assess risk. It launched last year as a joint-venture between Filipino billionaire John Gokongwei and fintech startup Oriente, who have pledged to invest $200 million into the venture over the next three years. Cashalo officials said the country’s high mobile penetration rate, its tech savvy population and the low use of credit cards will help boost its success.

  • Small loans… First-time borrowers can apply for loans of 3,000 to 5,000 Philippine pesos ($65 to $95).
  • Inclusive banking… The name is a play on words between “cash” and the Filipino word for “inclusions”.

You might also like...