Atome Financial, a major digital financial technology platform in Southeast Asia and part of Advance Intelligence Group, has grown its credit facility to US$80 million.
A private credit fund managed by BlackRock and venture debt provider InnoVen Capital have joined as new consortium members in the accordion tranche of its previously announced three-year senior secured term loan facility that includes the Malaysia market.
With this addition, the total facility size now stands at US$80 million, including the original tranche funded by EvolutionX Debt Capital in June 2024.
Atome Financial, which operates Atome Buy-Now-Pay-Later and Kredit Pintar, Indonesia’s leading digital lending platform, has been steadily expanding its financing capacity.
The company reported profitability in Q1 2024 and closed the financial year with strong performance.
For FY2024, Atome Financial posted a 45% year-on-year revenue increase to US$280 million and a 35% rise in Gross Merchandise Value (GMV) to US$2.5 billion.
Atome Financial attributed this growth to profitability optimisation across its product portfolio and operational efficiencies driven by Generative AI in customer service, collections, and product sales.
Andy Tan, Chief Commercial Officer, Atome Financial, said,
“We are incredibly excited and honoured to welcome BlackRock and InnoVen Capital as our new lending partners. Their participation is testament to our continued operational excellence, market leadership and remarkable business momentum, which is expected to accelerate in 2025.
This facility will help propel the growth of our expanded product suite, strategic partnerships and profitable regional portfolio to better serve the diverse financial needs of consumers across key Southeast Asia markets including Singapore, Malaysia, the Philippines and Indonesia.”
Atome Financial expects to maintain its positive momentum into FY2025 as it expands its offerings across the region.
Featured image credit: Edited from Freepik
