Financial technology company Skyro recently secured a ₱200-million credit facility from the Philippine Bank of Communications (PBCOM), a universal bank, to support its operations across the country.
“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,” Patricia May Siy, president of PBCOM.
The funding agreement between Skyro and PBCOM was formalized during a memorandum of agreement (MOA) signing attended by executives from both companies. Skyro plans to use the credit facility as additional working capital to strengthen its financial services.
“Our partnership with PBCOM signifies their trust in our bullish and forward-looking business model,” Anthony Co, president, Skyro, said in a statement.
Skyro entered the Philippine market in August 2022 and has since provided digital financial services. From 2022 to December 2024, the company disbursed ₱7 billion in loans. It currently operates in more than 4,500 partner merchant stores and serves over 320,000 active loan customers.