SINGAPORE, 20 November 2024 – In a landmark development, Atome Financial, Southeast Asia’s premier digital financial services platform, has announced the successful acquisition of a syndicated credit facility of up to US$200 million. This significant milestone, spearheaded by the Hongkong and Shanghai Banking Corporation Limited (HSBC), reflects growing trust in Atome Financial’s innovative approach to fostering financial inclusion in the region.
The credit facility, underpinned by HSBC through its ASEAN Growth Fund, has garnered additional support from DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch, and Baiduri Bank of Brunei. This collaborative initiative is expected to catalyze Atome Financial’s expansion, particularly in rolling out consumer-centric products like the Atome (Pay Later Anywhere) Card across key markets such as Singapore, Malaysia, and the Philippines.
A Vote of Confidence in Atome Financial’s Vision
Andy Tan, Chief Commercial Officer at Atome Financial, expressed gratitude for the banking community’s endorsement:
“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.”
This facility will enable Atome Financial to solidify its position as a market leader while fulfilling its mission to provide affordable and responsible financial solutions tailored to the evolving needs of Southeast Asian consumers.
Driving Financial Inclusion Across Borders
Priya Kini, Head of Commercial Banking at HSBC Singapore, highlighted the importance of the facility in enhancing financial accessibility:
“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.”
Strong Financial Performance Propels Expansion
Atome Financial’s growth trajectory has been remarkable. In FY2023, the company’s operating income nearly doubled to US$170 million, up from US$88 million in FY2022. The company processed US$1.5 billion in GMV (Gross Merchandise Volume) in 2023—a 40% year-on-year increase. The buy-now-pay-later segment also achieved profitability, driven by a 130% surge in revenue.
In the first quarter of 2024, Atome Financial achieved EBITDA positivity, signaling sustained profitability and operational efficiency.
The newly secured US$200 million facility expands upon a prior partnership with HSBC and introduces strategic collaborators like DBS, SMBC, and Baiduri Bank, underscoring the banking sector’s confidence in Atome Financial’s vision and execution.
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Strengthening Foundations for Growth
This announcement follows a recent funding success. In June 2024, Atome Financial secured a three-year term facility worth up to US$100 million from EvolutionX Debt Capital and other investors, further reinforcing its capital base for future innovations.
About Atome Financial
Atome Financial is Southeast Asia’s leading digital financial services platform, offering a wide array of solutions including lending, insurance, and digital cards. Its flagship services, Atome and Kredit Pintar, are trusted by millions across the region. A subsidiary of Advance Intelligence Group, Atome Financial is backed by prominent investors such as SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI.
