Atome Financial announced that it has secured a $200 million syndicated credit facility.
This was led by HSBC DBS Bank, Sumitomo Mitsui Banking Corporation, and Baidu Bank participate through the ASEAN Growth Fund.
A member of the Singapore-based Advance Intelligence Group, atme financial offers services such as buy later, pay later (BNPL), insurance, cards, and financing through platforms such as Atome and Kredit Pintar.
New facility based on existing facility partnership Partnering with HSBC to support expansion of lending products and ‘Pay Later Anywhere’ cards in key markets in Southeast Asia.
The announcement follows a strong fiscal year for Atome Financial, with operating profit nearly doubling to USD 170 million in 2023 and gross merchandise value (GMV) increasing by 40% to USD 1.5 billion .
The company also EBITDA positive In the first quarter of 2024.
This feature is USD 100 million regular facility Secured in June 2024 from EvolutionX Debt Capital and other investors.
“As a fast-growing startup with a fast-growing and profitable business, we are deeply grateful for this syndicated facility, which confirms the trust and confidence in our company from the banking industry.
We look forward to HSBC and our other partners supporting our capital needs and launching new and innovative personal finance products in key markets such as Singapore, Malaysia and the Philippines. ”
Andy Tan, Chief Commercial Officer of Atome Financial, said:
“We are pleased to join other financial institutions in strengthening our support to lead this syndicated financial institution.
Through this support, Atome Financial will bring greater financial inclusion by expanding access to affordable and responsible personal finance solutions to more consumers across Southeast Asia. ”
Priya Kini, Head of Commercial Banking at HSBC Singapore, said:
Featured image credit: Edited from Atome
