Leading finance app GCash, through its lending arm Fuse Lending, Inc., has teamed up with pioneer e-commerce platform Lazada Philippines to help support Filipino entrepreneurs by offering cash loans to eligible platform sellers to help fuel the growth of their online businesses.
The partnership was officiated by Fuse Lending President and CEO Anthony Isidro, Fuse Chief Strategy and Product Officer Baby Aquino, GLoan Product Head Kevin Yu, and Lazada’s Head of Seller Financing Benjamin Ng at a launch ceremony recently held at Bonifacio Global City.
Fuse Lending is the first partner to fully integrate a seller loan product within the Lazada Philippines Seller Center app. The partnership allows Fuse to reach micro, small, and medium enterprises beyond the GCash platform while enabling Lazada to offer loans to its sellers.
"As we continue to grow our presence in the micro, small, and medium enterprise (MSME) sector, which is the backbone of the Philippine economy, we are glad to be Lazada Philippines’ entrusted partner in providing their extensive network of small business owners with cash loans that are easier, safer, and more convenient," said Fuse Lending President and CEO Anthony Isidro.
GCash and Lazada Philippines piloted the program with selected sellers earlier this year, and are now looking to extend their user base over the coming months on the eCommerce platform.
The partnership is also in line with the digital roadmap of the Bangko Sentral ng Pilipinas which aims to strengthen the current landscape of digital payments and digital financial inclusion by making 50% of retail transaction volumes in the country digital. Moreover, the collaboration is a testament to the efforts of both fintech and e-commerce giants to provide effective access to a wide range of digital financial services for all, especially the underserved sectors.
“We're excited to provide Lazada Seller Loans together with Fuse Lending and we believe this offering will give Filipino entrepreneurs more opportunities to thrive in the digital retail space. This partnership represents an important step in our shared mission: contributing towards Sustainable Development Goal 17, expanding financial access to Filipino MSMEs, and accelerating progress in the Philippines,” said Benjamin Ng, Head of Seller Financing, Lazada.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
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This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
