FINANCIAL TECHNOLOGY (fintech) company Skyro has received a P200-million credit facility from the Philippine Bank of Communications (PBCom).

Skyro will use the funding as additional working capital for its operations in the Philippines, it said in a statement on Wednesday.

“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,” Skyro President Anthony Co was quoted as saying.

“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,” PBCom President Patricia May T. Siy said.

Skyro was launched in August 2022 and mainly offers product loans.

Its local operations are conducted through Advanced Finance Solutions, Inc. and Skyro Lending, Inc., and it is backed by Singapore-based fintech company Breeze Ventures.

Skyro has disbursed P7 billion in loans as of December 2024, it said.

The fintech firm is present in over 4,500 partner merchant stores nationwide and has more than 320,000 active product loan customers.

Meanwhile, PBCom saw its net income jump by 128.96% year on year to P821.2 million in the third quarter of 2024 on the back of higher revenues, bringing its nine-month profit to P1.85 billion, up by 36.02% from P1.36 billion a year ago. — AMCS