Atome Financial Secures US$100 Million Debt Facility From HSBC Singaporeby Fintech News Singapore August 12, 2022
Atome Financial announced that it has entered into an US$100 million debt facility with HSBC Singapore to fuel its flexible deferred payments business across Asia.
The fintech company is an umbrella business unit made up of two brands; buy now pay later platform Atome as well as digital lending platform Kredit Pintar in Indonesia. It is a subsidiary of Singapore-based tech unicorn Advance Intelligence Group.
Last September, the group recently closed over US$400 million in a Series D financing round from an investor consortium led by SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore-based global investor EDBI, valuing the company at more than US$2 billion.
HSBC is the structuring bank, lender, facility and security agent in providing a flexible, scaleable and pan-regional financing solution to support Atome Financial’s business expansion.
Regina Lee, Head of Commercial Banking, HSBC Singapore said,
“Singapore is home to innovative companies like Atome Financial, who are at the forefront of Southeast Asia’s new economy growth. We are very excited to support Atome Financial in their growth aspirations, as they drive broader financial inclusion across the region.
By providing flexible funding arrangements in markets where HSBC also has an on-ground presence, and supported by our ability to execute multi-market and multi-currency deals, we are able to connect clients to international opportunities and open new markets.”
Trina Yeung, Chief Financial Officer, Atome Financial said,
“We’re humbled and excited to have the support of HSBC.
It is testament to the trust and confidence they have in our mission and track record in using technology to provide consumers with easier, simpler, and more affordable access to digital-first financial services, so we can drive broader financial inclusion across both developed and emerging markets in Asia.”