Atome Financial, a key player in Southeast Asia’s digital financial services, announced that it has achieved profitability in the first quarter of 2024 and reported a substantial increase in operating income for 2023.
The company’s operating income soared to US$170 million, nearly double from the previous year’s US$88 million. Atome operates the buy-now-pay-later service Atome and Kredit Pintar, an Indonesian digital lending platforms.
The financial success in early 2024 follows a strong performance in 2023, including a significant 40% growth in Gross Merchandise Volume for the BNPL segment to nearly US$1.5 billion and a 130% surge in revenue despite economic headwinds.
According to Atome Financial, this profitability is supported by several strategic moves, including enhanced operational efficiencies, expanded regional partnerships with major e-commerce platforms like TikTok Shop and Lazada
The company has also been diversifying its product offerings including the launch of the Atome PayLater Anywhere Card in the Philippines as well as the Atome Cash loans in both the Philippines and Indonesia.
Featured image credit: Edited from Freepik
