Skyro to grow loans through Robinsons retail

Digital lender Skyro partnered with Gokongwei-owned Robinsons’ retail group to offer quick loans for a range of products, starting with appliances.

“We are well-positioned to extend our financing solutions to other Robinsons brands and affiliated stores,” Skyro head of point of sale Lowen Medina said.

“This expansion aligns with our goal of providing seamless and accessible financial services across a wider range of retail categories,” he added.

Medina shared that Skyro has partnered with more than 5,000 merchant stores, including Robinsons Appliances.

As a result, Medina said Skyro’s active borrowers have increased to over 400,000.

More flexible financial products

“Skyro plans to bring more flexible financial products to other Robinsons brands such as Robinsons Department Stores and Robinsons Supermarket, among others, in the future,” the digital lender said in a statement.

Skyro shared its product partnership for purchases at Robinsons Appliances after the digital lender announced in January that it secured a P200-million credit facility from Philippine Bank of Communications.

In December last year, Skyro also teamed up with Paynamics which is a business-to-business software company that helps facilitate payments to merchants.

Skyro already distributed a total of P7 billion from 2022 to 2024.

Skyro boasts of a 30-minute loan application process and up to 80 percent approval probability, which the company officers said has been driven by artificial intelligence and data analytics.