Seafarer app developer propelme has agreed a new strategic partnership with OnePuhunan in the Philippines, to widen direct access to credit financing for vessel crews.
The agreement will allow OnePuhunan to offer credit financing services to ships’ crew, initially in the Philippines exclusively, using UK-based propelme’s existing financial services technology and seafarer network.
The companies say that the offering will feature a straightforward loan structure with no hidden fees, with the goal of supporting seafarers in managing their finances more efficiently whether at home or while working at sea.
“Our partnership with OnePuhunan underscores our commitment to using our financial services technology to improve the future of work at sea,” said Chris McMenemy, CEO of propelme.
“The average Southeast Asian seafarer is considered a top 1% earner in their economy – but 90% lack access to sustainable credit facilities – or even basic life and health insurance.”
“propelme aims to unlock these opportunities for the 2 million seafarers globally by partnering our unique, seafarer focused, financial services technology with other financial services providers and products.”