Atome Financial, a leading Southeast Asian digital financial services platform owned and operated by Singapore-based Advance Intelligence Group, has secured a syndicated credit facility worth up to US$200 million.
HSBC led this round through its ASEAN Growth Fund. DBS Bank, the Singapore branch of Sumitomo Mitsui Banking Corporation and Brunei’s Baiduri Bank also participated in the facility.
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The funding will primarily be used to expand the fintech firm’s existing profitable portfolio and products, with a focus on lending and the Atome (Pay Later Anywhere) Card across critical Southeast Asian markets.
“We look forward to HSBC, and our other partners, continuing to support our capital needs and launch of new and innovative personal finance products in key markets like Singapore, Malaysia and the Philippines,” said Andy Tan, Chief Commercial Officer at Atome Financial.
Launched in December 2019, Atome is a digital platform that provides consumers across the region with flexible deferred payments through its mobile app. It also offers digital consumer loans in Indonesia through the Kredit Pintar mobile app.
The startup claims to have achieved a robust financial performance in recent years; its operating income in FY2023 nearly doubled, reaching US$170 million, compared to US$88 million in the previous year.
It also claims it processed almost US$1.5 billion in gross merchandise volume (GMV) in 2023, reflecting a 40 per cent year-on-year increase. The buy-now-pay-later business achieved profitability, driven by a remarkable 130 per cent surge in revenue.
In the first quarter of 2024, the company achieved EBITDA positivity.
“Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” said Priya Kini, Head of Commercial Banking at HSBC Singapore.
Previously, Atome Financial secured a three-year term facility of up to US$100 million from EvolutionX Debt Capital and other investors in June 2024. Last year, it announced a US$100 million debt facility with HSBC Singapore to expand its services in the Philippine market and develop new consumer financing products.
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Atome also counts SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI among its backers.
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