Atome Financial announced securing a US$200 million syndicated credit facility.
This was led by HSBC through its ASEAN Growth Fund, with participation from DBS Bank, Sumitomo Mitsui Banking Corporation, and Baiduri Bank.
Part of Singapore-based Advance Intelligence Group, Atome Financial provides services such as buy-now-pay-later (BNPL), insurance, cards, and lending through platforms like Atome and Kredit Pintar.
The new facility, building on its existing partnership with HSBC, will support the expansion of its lending products and “Pay Later Anywhere” card across key Southeast Asian markets.
The announcement follows a strong financial year for Atome Financial, which saw operating income nearly double to US$170 million and Gross Merchandise Volume (GMV) grow 40% to US$1.5 billion in 2023.
The company also achieved EBITDA positivity in Q1 2024.
This facility complements a US$100 million term facility secured in June 2024 from EvolutionX Debt Capital and other investors.
“As a fast-growing startup with a rapidly growing and profitable business, we are deeply appreciative of this syndicated facility, which underscores the banking community’s trust and confidence in us.
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.
“We are pleased to deepen our support to lead this syndicated facility, along with other lenders.
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, HSBC Singapore.
Featured image credit: Edited from Atome
