The buy now, pay later (BNPL ) space showed some signs of trouble recently, but it appears to have found new momentum. GoTo and TikTok Shop are looking to launch a BNPL service, and Southeast Asia’s BNPL payments volume may reach US$232.5 billion in 2024.

Now Philippine BNPL provider BillEase has secured a US$5 million investment from Saison Investment Management Private Limited (SIMPL), part of Japan’s Credit Saison.

The funding adds to BillEase’s existing credit facility, which the company says has reached US$40 million. BillEase had raised US$20 million from Helicap back in 2022.