Peppermint’s Pinoy Coop Mobile Users Double, bizmoLoan Revenue Up 43% in Q1 2025

A Quarter of Breakthrough Growth

Peppermint Innovation Ltd (ASX:PIL) has delivered a compelling operational rebound in the March 2025 quarter, showcasing the resilience and scalability of its digital financial services in the Philippines. The company’s flagship Pinoy Coop Mobile (PCM) platform saw registered users soar by 184% to 33,016 by the end of April, more than doubling since December 2024. This surge was driven by targeted marketing efforts and direct cooperative engagement, underscoring Peppermint’s deepening foothold in the country’s cooperative ecosystem.

Transaction activity mirrored this growth, with PCM processing 22,395 transactions, up 102%, and handling a transaction value of approximately $2.7 million, an 89% increase. These figures highlight the platform’s expanding role as a trusted conduit for financial inclusion among over 3.4 million cooperative members nationwide.

Record Loan Approvals and Revenue Growth

The company’s bizmoLoan product also posted record quarterly performance, with gross revenue climbing 43% quarter-on-quarter to Php 349,250. Loan approvals hit an all-time high of 1,273, reflecting the success of enhanced agent onboarding, expanded field sales, and new incentives. Notably, loan repayment rates remained robust, and the non-performing loan ratio improved, signaling effective credit risk management.

Looking ahead, Peppermint is advancing its proprietary AI credit risk assessment platform, which promises to further reduce non-performing loans and accelerate loan processing. Neal Cross, leading this initiative, emphasized the transformative potential of AI-powered analytics to optimize lending strategies and reporting.

Strategic Partnerships Bolster Ecosystem Expansion

Strategic Memoranda of Understanding signed with major Philippine financial institutions RCBC, Rizal Microbank, and RAFI Micro-Finance mark a significant milestone. These partnerships are expected to broaden Peppermint’s product reach and deepen its integration within the country’s financial sector, particularly among micro, small, and medium enterprises.

Complementing these alliances, Peppermint continues to strengthen its collaboration with MASS-SPECC and other cooperative groups, facilitating onboarding and digital literacy initiatives that drive user engagement and trust.

Technology and Infrastructure Enhancements

On the technology front, Peppermint has made substantial progress integrating its platforms with the Philippines’ national payment infrastructure. The InstaPay direct integration is in the final pre-certification stage with BancNet, poised for deployment in early May 2025. Concurrently, user acceptance testing for PESONet and the Bangko Sentral ng Pilipinas Real-Time Gross Settlement system is underway, enabling higher-value and cross-platform transactions.

Security and scalability have been bolstered through migration to a modern AWS cloud environment and deployment of advanced cybersecurity measures, including Trend Micro XDR. These upgrades ensure operational resilience and regulatory compliance, positioning Peppermint for sustainable growth.

Financial Position and Outlook

While Peppermint reported operating cash outflows of $609,000 for the quarter, it ended with a healthy cash balance of $637,000 and access to $2 million in unused financing facilities. This financial flexibility supports ongoing investments in product development, marketing, and infrastructure.

CEO Chris Kain expressed renewed confidence entering the remainder of 2025, emphasizing the company’s commitment to innovation, ecosystem expansion, and delivering lasting value to stakeholders. The momentum achieved this quarter lays a solid foundation for Peppermint’s vision of inclusive digital financial services across the Philippines.