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’sHead 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.
For more information, please visit www.gcash.com