Online lending platform MocaMoca announced that it has surpassed 20 million users in the Philippines, marking a milestone five years after its launch. The company attributed the growth to persistent demand among Filipinos for simpler and more transparent credit options, as reported by BusinessWorld.
MocaMoca said many Filipinos still face significant barriers when trying to access formal credit, and the platform aims to remove those obstacles through a lending experience that is built around borrowers' needs while maintaining high standards of transparency and simplicity. The company did not disclose specific loan volumes or active borrower counts.
The 20-million user milestone positions MocaMoca among the largest digital lending platforms in the Philippines, reflecting the rapid adoption of fintech services in the country. The platform's continued expansion comes amid growing regulatory scrutiny and competition in the online lending space.