AND Financing Corporation (AFC), the firm behind the consumer finance app "etomo," has announced new partnerships with three international companies: Marubeni Corporation, Premium Group Co., Ltd., and AND Global Pte. Ltd. This strategic alliance aims to bolster AFC's presence in the Philippine consumer finance market.

Founded in 2018 as a subsidiary of AND Global, AFC launched its Online Lending Platform (OLP) under the name “LendPinoy.” The company specializes in microloans, leveraging AND Global’s fintech expertise. As the middle-income class in the Philippines has driven domestic consumption, AFC has expanded its offerings to include longer-term and multi-purpose personal loans.

In 2023, Marubeni, a major Japanese trading and investment business conglomerate, and Premium Group, an integrated car service provider listed in Japan, became shareholders, leading to their joint acquisition of AFC’s majority shares in June 2024.

In July 2024, AFC rebranded its OLP and personal loan products under the name etomo. The rebranding, supported by the new alliances, aims to enhance etomo’s market presence, expand its customer base, and advance its digital financial services.

AFC has stated that its vision is to provide innovative financial products and services to positively impact Filipino society. Etomo currently offers the etomo Term Loan and will soon introduce the etomo Revolving Loan, designed for salaried workers and their families. These loans, accessible through the etomo App, feature competitive rates and a fully digital application process, and are collateral-free, promoting financial inclusion.

Etomo also leverages AI and machine learning to offer financial products on their user-friendly smartphone app. Through these advancements, AFC seeks to address the financial needs of underserved populations and contribute to the country’s economic growth.