Atome Financial Acquires Indonesian Financing Firmby Fintech News Singapore April 1, 2021
Atome Financial, the parent company of Buy Now, Pay Later (BNPL) firm Atome, has completed its acquisition of local financing company PT Mega Finadana Finance in Indonesia. Details of the acquisition was not disclosed.
The acquisition will allow Atome Financial to expand its business in Indonesia through especially consumer financing.
Following the acquisition, PT Mega Finadana Finance changed its name to PT Atome Finance Indonesia.
Atome Financial consists of two main business units, Atome and Kredit Pintar. The latter is an Indonesian digital lending ap licensed by OJK, with over 10 million mobile app downloads and a 4.8-star rating on Google Play Store.
Wawan Salum, CEO of Atome Financial Indonesia CEO said,
“Since 2017, Atome Financial has partnered some of the world’s most respected financial institutions who provide over $200 million in funding and credit facilities to propel financial inclusion.
Cumulatively, we have served over 5 million users and provided over USD 1 billion of credit to empower merchants and consumers. This licence will not only accelerate our rapid business expansion, but also contributes to a stronger and healthier national lending and financing ecosystem in Indonesia.”