Atome Financial has reported its strongest year yet, with revenue rising 80 per cent year-on-year to US$470 million in 2025, as the Singapore-based digital financial services platform expanded its lending book, merchant network, and card products across Southeast Asia.
The company, which comprises Atome’s buy-now-pay-later business, Atome Card, and Indonesian digital lending platform Kredit Pintar, also said it remained profitable before tax for the second consecutive year. It did not disclose its profit figure.
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Total operating income reached US$360 million, up 52 per cent from 2024, while gross merchandise volume (GMV) crossed US$4 billion during the year, an increase of more than 60 per cent. GMV refers to the total value of transactions processed on the platform before deductions such as refunds, fees, or other adjustments.
The numbers come at a time when Southeast Asia’s consumer credit market is being reshaped by embedded finance, digital lending, and card-linked instalment products. Traditional banks still dominate formal lending, but fintech platforms have found room to grow by serving younger consumers, online shoppers, small merchants, and underbanked borrowers who may not have easy access to conventional credit cards or personal loans.
Atome’s latest figures suggest that the company is no longer just riding the early wave of BNPL adoption. It is trying to position itself as a broader digital finance platform, one that combines instalment payments, cards, lending, insurance, savings, and merchant financing across multiple markets.
Momentum carries into 2026
Atome said its growth has continued into 2026. As of June, annualised net revenue had reached US$800 million, up 55 per cent year-on-year, while annualised GMV crossed US$6 billion, up 64 per cent.
Annualised figures are not the same as full-year results. They usually take a shorter reporting period and project it over 12 months. Still, they give a useful indication of the pace at which the business is currently running, especially for companies in high-growth lending and payments segments.
One of the company’s key drivers has been product adoption in the Philippines. Atome’s PayLater Anywhere Card crossed three million cards issued as of June 2026. The product allows users to pay later beyond Atome’s merchant network, effectively turning BNPL into a more flexible card-based credit product.
The card was also launched in Malaysia earlier this year, giving Atome another route to deepen engagement in a market where digital banking, e-wallets, and instalment payment products are becoming increasingly competitive.
The company also credited its growth to wider merchant partnerships, new product rollouts, loan book expansion, and the use of artificial intelligence across operations. In fintech, AI is often used to improve credit underwriting, detect fraud, automate customer service, and prioritise collections. The real test is whether these tools can support faster growth without weakening asset quality.
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That question matters because digital lenders and BNPL platforms depend not only on transaction volume, but also on their ability to manage defaults. Rapid loan book expansion can lift revenue in the short term, but poor credit controls can quickly turn growth into losses.
Funding lines become a competitive weapon
Atome Financial has also been strengthening its funding base, which is critical for any lending-led platform. The company recently secured a PHP5 billion, or US$81 million, facility with Asia United Bank in the Philippines. The local currency facility adds to its funding stack and reduces some of the foreign exchange mismatch that can arise when lending in regional markets.
Earlier this year, Atome also announced an upsized US$345 million syndicated facility to support growth across Southeast Asia.
This access to institutional funding is one of Atome’s key advantages. Its funding partners include Standard Chartered, HSBC, Bank Jago, DBS Bank, SMBC, BlackRock, EvolutionX Capital, and InnoVen Capital. The company is part of Advance Intelligence Group, which is backed by investors including SoftBank Vision Fund 2, Warburg Pincus, Northstar, and Singapore-based EDBI.
For digital lenders, funding is not merely balance-sheet plumbing. It determines how much credit they can extend, how competitively they can price products, and how resilient they are when capital markets tighten. In Southeast Asia, where interest rates, currency movements, and consumer credit risk vary widely by country, diversified funding lines can help platforms expand without relying too heavily on a single market or source of capital.
The Philippines facility is particularly notable because the country has become one of the region’s most active fintech markets. It has a large young population, high mobile usage, and still-significant gaps in formal credit access. At the same time, regulators have become more alert to consumer protection, data privacy, and aggressive debt collection practices in digital lending.
BNPL grows up, but scrutiny follows
Atome’s results also land in a more mature phase for BNPL. During the pandemic-era e-commerce boom, BNPL companies benefited from a surge in online shopping and merchant demand for conversion tools. But globally, the sector has since faced pressure from higher funding costs, regulatory scrutiny, and questions over consumer overborrowing.
In Southeast Asia, the picture is more nuanced. BNPL remains attractive because credit card penetration is still uneven, and many consumers are comfortable with mobile-first financial products. Merchants, meanwhile, use instalment options to increase basket sizes and reduce friction at checkout.
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But regulators are watching more closely. Singapore has introduced a BNPL code of conduct, while other Southeast Asian markets have been tightening rules around digital lending, disclosures, debt collection, and consumer affordability. For platforms such as Atome, the next phase of growth will likely depend on whether they can show not just scale, but responsible lending discipline.
This is where profitability before tax becomes important. Many fintechs in the region spent years prioritising user growth over earnings. Atome’s claim of a second consecutive year of pre-tax profitability suggests a shift towards more sustainable expansion, though the absence of detailed profit and credit-loss figures makes it difficult to assess the quality of those earnings from the announcement alone.
Rivals crowd the same opportunity
Atome operates in a crowded and increasingly blurred competitive field. In Southeast Asia, it competes with digital finance and lending players such as Kredivo, Akulaku, SeaMoney’s SPayLater, and Grab’s financial services ecosystem. In specific markets, it also faces banks, e-wallets, digital banks, credit card issuers, and local lending platforms that are adding instalment and pay-later features.
Globally, the broader BNPL category includes names such as Klarna, Affirm, and Block-owned Afterpay, though their market focus and operating models differ from Atome’s Southeast Asian playbook. The competitive pressure is not only about who can sign more merchants or issue more cards. It is about underwriting, funding cost, regulatory trust, and the ability to turn transaction relationships into broader financial services.
Atome’s regional footprint gives it exposure to some of the fastest-growing consumer markets in Asia. But it also means operating across countries with different credit bureaus, payment habits, languages, regulations, and collection environments. Scaling a credit business across Southeast Asia is rarely straightforward.
The company’s 2025 results show that demand for flexible consumer finance remains strong. Its 2026 run-rate figures suggest that momentum has not slowed. The harder task now is to prove that this growth can hold through a full credit cycle.
For Southeast Asia’s fintech sector, Atome’s trajectory reflects a wider shift. The winners in digital finance will not simply be the companies that acquire the most users. They will be the ones that can pair distribution with disciplined lending, stable capital, and products that remain useful after the initial BNPL novelty fades.
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