Australian BNPL Firm Zip Drives Expansion in South East Asia With Investment in TendoPay

Australian Buy Now, Pay Later (BNPL) company Zip Co has furthered its global expansion, announcing a strategic investment in TendoPay, a BNPL provider based in the Philippines.

The investment represents Zip’s first step into South East Asia, which will also act as a launchpad for the company’s expansion into the region.

The company has recently established central operations and commercial teams in Singapore, in preparation for further growth.

Founded in 2018, TendoPay offers digital instalment plan solutions, with a focus on responsible lending. The platform gives Filipino consumers the convenience of instalment loans for online purchases and a choice of repayment terms (from 15 days to 24 months).

TendoPay is also offered as an employee engagement perk, with the company partnering with top employers in the Philippines to provide financial wellness to staff.

The Filipino e-commerce market is projected to grow to US$12 billion (30% CAGR until 2025) alongside its digital economy, which is expected to reach US$28 billion in the next four years.

Zip’s investment will provide TendoPay with access to the expertise, finance and global network needed to accelerate growth and introduce international best practice to the region, ultimately offering users a wider range of accessible, fair and flexible digital payment options at checkout.

Zip Co-Founder and CEO, Larry Diamond

Larry Diamond

Zip Co-Founder and CEO, Larry Diamond said,

“The e-commerce market in the Philippines is growing significantly, and consumers are looking for fairer, more flexible and accessible ways to pay. We recognise and align with TendoPay’s focus on building responsible lending products for consumers and its risk analysis systems.


We will work together to drive growth and market leadership, helping deliver the best experiences for merchants and consumers in the Philippines.”

TendoPay, Co-Founder and CEO, Kacper Marcinkowski

Kacper Marcinkowski

TendoPay, Co-Founder and CEO, Kacper Marcinkowski said,

“Our partnership with Zip will support the Philippines’ rapidly evolving e-commerce sector. As market leaders, Zip will provide us with increased expertise, technical know-how and access to a global merchant network.


It will also enable TendoPay to accelerate its growth and bring international BNPL best practices to the Philippines. The acquisition will give Tendo’s merchants access to new geographic opportunities.”

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