FinVolution Partners with Maya Bank for $47.5M Loan Deal in the Philippines
FinVolution Group ("FinVolution," or the "Company") (NYSE:FINV), a leading fintech platform, today announced that its Philippines financial subsidiaries Wefund Lending Corporation and Lightning Financing Company entered into a loan facilitation agreement totaling 2.75 billion Peso (US$47.5 million) with Maya Bank, a pioneering digital bank dedicated to empowering the experience of its consumers and enterprise clients, and improve credit accessibility for the unbanked and underserved communities in the Philippines.
JuanHand, an online lending platform with around 6 million registered users under Wefund Lending Corporation emerged as the preferred online platform for tech-empowered cash lending and other financial solutions among Filipinos. This strategic partnership expands FinVolution's service offerings in the Philippines and advances the Company's mission of connecting underserved borrowers with financial institutions. It will also open avenues for more extensive future collaborations, creating opportunities to broaden the Company's reach in the Philippines through tech and funding innovation.