First Circle

What First Circle does

First Circle is a Philippine fintech operating as First Circle Growth Finance Corp., an SEC-regulated financing company headquartered in Bonifacio Global City, Taguig. Founded in 2016, the company provides digital business banking and credit products to small and medium enterprises (SMEs) in the Philippines that are typically underserved by traditional banks due to collateral requirements and slow approval timelines. The platform is built on cloud infrastructure (Microsoft Azure, AWS, Cloudflare) with banking services delivered through partner rural banks Netbank and Farmbank, which are regulated by the Bangko Sentral ng Pilipinas.

The core product set spans revolving credit (Business Credit Line up to ₱20M at 0.99% monthly interest), short-term bridge financing (Express Business Loan, disbursed within 24 hours), longer-term fixed loans (Business Credit Plus, 13–24 months), fee-free online business banking, employee salary access (Future Salary Access / Asenso Advance), solar financing, and workflow modules for e-invoicing and payroll. Revenue is generated through interest on drawn credit balances, per-withdrawal processing fees (1.99%), subscription plans for unlimited withdrawals (3.99%–6% depending on term), Express Loan processing fees (1%–4% tiered by customer revenue), and Future Salary Access convenience fees. As of the most recent disclosed metrics, First Circle has served 5,000+ Filipino businesses, disbursed ₱16 billion in loans cumulatively, and claims an 80% average revenue growth for customers within two years.

The go-to-market combines a digital self-serve onboarding funnel (5-minute online application) with inside-sales-supported relationship management via dedicated account managers. Distribution is reinforced by an Ambassador Circle referral program and institutional partnerships including the Philippine Department of Trade and Industry (DTI) as official financing partner, the Quezon City LGU, multiple chambers of commerce, and the Credit Information Corporation for credit bureau access. The company has raised approximately $60M+ in cumulative equity and debt funding from 500 Startups, Accion, Insignia Ventures Partners, Venturra, Koru Partners, Fasanara Capital, IFC, and Cathay United Bank across rounds spanning 2016–2026.

Name

First Circle

Legal name

First Circle Growth Finance Corp.

Website

https://firstcircle.ph

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

First Circle is a Philippine fintech providing digital business banking, revolving credit lines, salary access, and solar financing to underserved SMEs. It has served 5,000+ businesses and disbursed ₱16 billion in loans since 2016 through a cloud-based platform.

Ownership category

akta.pro rank

Product category

SME Lending & Business Financing

NAICS

Commercial Banking (52211)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153), Finance Services (6199)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• SME business lending
• Revolving credit lines
• Business banking platform
• Employee salary advances
• Commercial solar financing

Headquarters

HQ city

Taguig

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Business Credit Line Interest: Interest charged on drawn credit line amounts at monthly rates starting from 0.99%. Customers only pay interest on amounts actually used, not on the full credit limit.
2. Processing Fee: Per-withdrawal convenience fee of 1.99% on credit line drawdowns, charged only when customers actually use their credit.
3. Subscription Fee: Alternative fee structure for frequent borrowers offering unlimited withdrawals for a fixed period: Annual (3.99% of line amount), Bi-Annual (4.8%), or Quarterly (6%).
4. Express Business Loan Fees: Short-term bridge financing with fixed fees ranging from 1% to 4% processing fee based on annual business revenue, with 0% monthly interest for large enterprises (₱200M+ revenue).
5. Solar Financing: Monthly installments for solar panel systems over 6-12 year terms, with customers transitioning from utility payments to system ownership.
6. Future Salary Access Fees: Asenso Advance charges 5-10% one-off convenience fee upfront. Flexible Salary Advance offers competitive rates with no hidden fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

First Circle provides digital-first business financing and banking products to Philippine SMEs, including a non-collateral revolving Business Credit Line of up to ₱20 million, fee-free Business Banking accounts, short-term Express Business Loans, longer-term Business Credit Plus loans, Future Salary Access for employee salary advances, and end-to-end Solar Financing for rooftop solar systems. Banking services are delivered through partner rural banks (Netbank, Farmbank) while First Circle owns the technology platform and credit underwriting.

Product overview

First Circle is a Philippine fintech company offering a platform of business financing and banking solutions for SMEs. The core portfolio consists of Business Banking (online banking with fee-free transfers), Business Credit Line (revolving credit up to ₱20M), Express Business Loan (same-day short-term financing), Business Credit Plus (longer-term fixed loans), Future Salary Access (employee salary advances), and Solar Financing (rooftop solar leasing). Additional modules include E-Invoicing for invoice management and Payroll for salary disbursement. The products share a common digital platform and account infrastructure, with banking services provided through partner Netbank (A Rural Bank), Inc.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Banking Online business banking platform offering fee-free transfers, zero maintaining balance, instant QR payments, batch transfers up to 1,000 recipients, scheduled future payments, and multi-user team management. Deposit accounts are held at BSP-regulated partner banks Netbank (A Rural Bank), Inc. and Farmbank Inc.
• Business Credit Line Revolving non-collateral credit facility for Philippine SMEs providing up to ₱20 million in reusable credit with monthly interest starting at 0.99%, repayment terms up to 12 months, same-day disbursements, flexible repayment schedules, and a 1.99% per-withdrawal processing fee. Alternative subscription pricing is available (Annual 3.99%, Bi-Annual 4.8%, Quarterly 6%).
• Express Business Loan

Quantifiable outcome

• ₱16 billion in loans provided to Filipino businesses
• +4 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core, flagship and minor.

• Netbank (A Rural Bank), Inc.coreOthersNetbank provides banking services for First Circle's Business Account products, including deposit accounts and payment processing. BSP-regulated rural bank partner.
• Farmbank Inc.coreOthersFarmbank Inc. is a BSP-regulated rural bank partnered with First Circle to provide banking services for Business Account offerings.
• Department of Trade and Industry (DTI)flagshipStrategic or Co-development PartnerOfficial financing partner of DTI. First Circle holds DTI E-Commerce Philippine Trustmark certification and participates in DTI SME programs.
• Quezon City GovernmentcoreStrategic or Co-development PartnerOfficial financing partner of Quezon City LGU, supporting SME development initiatives in the city.
• Credit Information CorporationcoreStrategic or Co-development PartnerPartner for credit information sharing and credit bureau services supporting First Circle's underwriting processes.
• Management Association of the PhilippinesminorOthersMember of MAP supporting business networking and SME advocacy.
• PhilexportminorOthersMember of Philexport supporting export-oriented SMEs.
• American Chamber of Commerce of the PhilippinesminorOthersMember of AmCham for business networking and international business connections.
• Philippine Chamber of Commerce and IndustryminorOthersMember of PCCI supporting SME advocacy and business development.
• Davao Chamber of Commerce and IndustryminorOthersMember of Davao Chamber for regional business networking.
• Cebu Chamber of Commerce and IndustryminorOthersMember of Cebu Chamber for regional business networking in Visayas.
• Philippines Finance AssociationminorOthersMember of Philippines Finance Association recognized as Most Outstanding Member in 2024.

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Funding Societies / Modalku: SEA's largest SME digital financing platform operating across Singapore, Indonesia, Vietnam, Thailand, and Malaysia. Directly comparable business model of unsecured working capital loans to underserved SMEs with proprietary underwriting. Most relevant direct peer given regional scope and product overlap with First Circle's Business Credit Line.
• Tonik Digital Bank: Philippine neobank offering digital deposit accounts, consumer loans, and SME banking products. Directly competes with First Circle's Business Banking offering and targets similar Filipino customers with a digital-first approach. Headquartered in Taguig, same business district as First Circle.
• Maya Bank: Philippine digital bank backed by PLDT and Smart Communications, offering business banking, payments, and lending products. Competes directly with First Circle in Filipino SME segment with substantially larger distribution via Maya super-app ecosystem. Major potential disruptor in the Philippine SME fintech space.
• Plentina: Philippine fintech offering point-of-sale financing and consumer/SME credit products. Comparable as a Philippine digital lending platform targeting underserved borrowers, though with different channel focus on merchant checkout financing versus First Circle's direct SME credit line model.
• BillEase (Fuluya): Philippine BNPL and digital credit platform serving consumers and SMEs. Operates in the same Philippine market with similar alternative credit scoring approach and digital-first onboarding. Overlap with First Circle's express/short-term lending products.
• Akulaku: SEA digital finance and consumer lending platform operating across Indonesia, Philippines, Vietnam, and Thailand. Comparable business model of serving underserved borrowers with digital credit products and ecosystem play, including banking, e-commerce, and credit features.
• Funding Circle (UK): UK-listed SME lending platform providing term loans and credit lines to small businesses. Direct namesake and conceptual peer with the same SME fintech lending thesis, though operating in more mature UK/US markets versus First Circle's emerging market focus.

Broad incumbents

• UnionBank of the Philippines: One of the Philippines' leading universal banks with significant digital transformation focus through UnionBank Online and SME banking platform. Competes with First Circle in SME lending and deposits with much larger balance sheet and branch network, while also serving consumer and corporate segments.

Others

• Kiva: Global nonprofit crowdfunding platform for SME loans operating in Philippines and other SEA markets. Different model (crowdfunded) but shares First Circle's financial inclusion mission and SME focus. Acumen, Accion and other impact investors overlap with First Circle's DFI-aligned investor base.

Emerging players

• Atome (Advance Intelligence Group): SEA BNPL and digital credit provider backed by SoftBank Vision Fund and others. Comparable in serving SME and consumer credit in SEA through digital platforms, with overlap in Philippine and regional fintech lending markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/firstcircleph
• YouTubeyoutube.com/channel/UCybmIxy2PIuImZ66CeOEHfw
• Facebookfacebook.com/firstcircleph
• LinkedInlinkedin.com/company/6608418
• Instagraminstagram.com/firstcircleph

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds8 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Circle