Financial technology (fintech) company Skyro said it received a P200-million credit facility from the Philippine Bank Communications (PBCOM).
Skyro said it would use the fund as additional working capital to support its fast-growing operations across the country.
The credit facility was formalized during a recent memorandum of agreement signing attended by top executives from PBCOM and Skyro.
“Our partnership with PBCOM signifies their trust in our bullish and forward-looking business model. We’re grateful for their trust and we look forward to a very fruitful and enduring partnership with PBCOM for many years to come,” said Skyro president Anthony Co.
“Skyro has swiftly earned its reputation as a fast-growing fintech company in the country, offering the friendliest financial lending services. Our credit facility approval for Skyro indicates our trust in the company and our support for their continuous growth so that they can provide flexible payment options suitable for every Filipino,” said PBCOM president Patricia May Siy.
Introduced in the country in August 2022, Skyro earned a reputation for its innovative digital financial services. In just two years, Skyro disbursed P7 billion from 2022 to early December 2024.
It is also now present in over 4,500 partner merchant stores nationwide with more than 320,000 active product loan customers.
Skyro offers one of the most flexible product loans in the country. With an approval probability of up to 80 percent for loan applications, Filipinos can enjoy flexible loan solutions, allowing them to easily adjust their monthly payment and due dates to meet their personal needs.