This Filipino startup lets employees get their salaries in advance; secures $15m debt facility from Lendable

Uploan wants to expand its services to reach more employers.


Faith Baltazar

24 Apr, 2021

This Filipino startup lets employees get their salaries in advance; secures $15m debt facility from Lendable | BEAMSTART News

Uploan is on a mission to provide financial support to more Filipino employees, by allowing them to get their salaries (and various loans) a whole lot quicker.

Headquartered in Manila, the company has just received a $15 million debt facility from London-based loan startup, Lendable.

According to Lendable, Uploan is their first-ever portfolio company in the Philippines.

Uploan's official website.

Uploan provides loans for employers

Launched in 2017, Uploan works with businesses by providing different types of loans for their employees.

These loans come in the form of salary loans, instant cash, insurance, and more. 

Ironically, Uploan claims that while the national government implemented debt repayment restrictions during the pandemic outbreak, its consumer base has grown to over 300,000 employees despite freezing the firm's revenue.

Since 52% of Uploan's customers are female, the firm is a match for Lendable's goal to urge financial institutions to fund women in developing countries like The Philippines.

Applying for Uploan

Uploan will use the debt facility to improve funding

With over 100 partnerships across the country, Uploan seeks to collaborate, allocate funds, and reach more employers as a result of Lendable's investment.

The debt facility will also enable Uploan to scale their services more effectively, reaching more people in need.

Since Upload is backed by the employees' human resources data, the company claims that its financing services can progress and upgrade over time especially with regards to underwriting and pricing.

“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,” mentioned Uploan CEO Liam Grealish.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Machine Learning Engineer

Two Dots

California,

Full Time

USD 150000 — USD 225000 yearly

Linux/Android Kernel Engineer

Flock Safety

Full Time

USD 150000 — USD 180000 yearly

Software Engineer (Typescript) - Europe

Rollstack

Full Time

USD 60000 — USD 100000 yearly

Founding Product Manager

Method Financial

Texas,

Full Time

USD 150000 — USD 200000 yearly

Product Manager

Keeper

Texas,

Full Time

USD 100000 — USD 150000 yearly

Electrical Engineer

BLISSWAY

Colorado,

Full Time

Salary Undisclosed

Enterprise Business Development Representative

DraftWise

New York,

Full Time

USD 65000 — USD 90000 yearly

Growth & Operations Associate

Garage

New York,

Full Time

USD 90000 — USD 125000 yearly

Data & Analytics Engineer

Rinsed

New York,

Full Time

USD 100000 — USD 180000 yearly

VP of GTM Strategy and Revenue Operations

TRM Labs

Full Time

USD 200000 — USD 220000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).