Mixing microfinance and mobility : Cebuana, Byahe partner for sustainable transport, financial inclusion

Microfinancing institution Cebuana Lhuillier has partnered with electric transport firm Byahe for the deployment of more modern and electric jeepneys to new routes and finance drivers who want to put up small businesses.

“Our investment in Byahe reflects our commitment to innovation and sustainability in transport, empowering Filipinos with better mobility and financial inclusion,” Cebuana Lhuillier president and chief executive officer Jean Henri Lhuillier said in a statement to the media.

Lhuillier and Byahe co-founder Brian Cu signed documents on their firms’ partnership on 12 February.

From a leading pawnshop in the country, Cebuana Lhuillier expanded into a ride-hailing app called Xpress. This business segment provides the public the option to ride BYD’s electric cars and electric tricycles on Boracay Island. The firm recently said it opened 150 slots for Xpress drivers in Bataan.

Through its Kanegosyo Center, Cebuana Lhuillier further offers micro loans for vehicle financing.

Byahe, which was co-founded by former Grab Philippines country manager Brian Cu in 2018, is currently operating over 100 modern and electric jeepneys for public transport in seven routes in Metro Manila, Pampanga and Nueva Ecija.

Byahe’s Euro 4 engine-powered jeepneys emit 50 percent less carbon than the older Euro engine models.

“Cu, who was instrumental in expanding Grab’s presence in the country, is positioned to guide Byahe’s growth and further strengthen the partnership with Cebuana Lhuillier,” the financial firm said.