TendoPay

TendoPay operates as a financial technology firm in the Philippines, providing employee benefits and financial services. The company was founded in 2018 by Kacper Marcinkowski, Jan Walczak, Kamil Charazka, and Timothee Grassin. Marcinkowski, the CEO, previously served as Operations Manager at Coins.ph, gaining experience in the local fintech landscape. Co-founder Tim Grassin, who manages growth, has a background in finance and previously built a design agency in Canada before relocating to Southeast Asia. The founders' collective experience aims to address the needs of consumers by delivering accessible and transparent financial products.

A significant milestone in TendoPay's history was its acquisition by Tonik Financial, the parent company of Tonik Digital Bank, in a deal announced in December 2022. This strategic move was intended to augment Tonik's digital credit portfolio by integrating TendoPay's payroll-enabled financial services. Before the acquisition, TendoPay had secured $150K in a seed funding round in June 2020, led by the accelerator Iterative. The company also received its financing license in the Philippines in 2019, which allowed it to begin issuing loans and gathering data.

The core of TendoPay's business is a B2B2C model, partnering with companies to offer their employees a suite of financial wellness tools. This is offered at no cost to the employer. The company's services are aimed at providing financial flexibility to employees, which in turn helps partner companies with employee engagement and retention. Revenue is generated from service fees and interest rates applied to the financial products used by the employees. As of late 2022, TendoPay had partnered with over 200 companies and built a merchant network of more than 500 brands and e-commerce sites.

TendoPay's product suite is designed as a one-stop shop for employee financial needs. A primary offering is its buy now, pay later (BNPL) service, allowing users to make online purchases and pay in installments over 2 to 24 months without a credit card. For employees of partner companies, TendoPay provides a virtual credit card, emergency cash loans, personal finance management tools, and rewards programs. Loan amounts range from ₱2,000 to ₱30,000 with interest rates starting from 2% per month. Through its integration with Tonik, it also offers automated savings tools with interest rates of up to 6% per annum, premium insurance products, and bill payment services.

Keywords: financial wellness, employee benefits, payroll-deducted loans, buy now pay later, BNPL Philippines, fintech, digital lending, point of sale financing, installment payments, e-commerce finance, salary advance, virtual credit card, financial inclusion, personal loans, consumer finance, Tonik Bank, corporate partnerships, employee financial services, digital credit