Atome Financial, a digital financial services platform in Southeast Asia, has secured a syndicated credit facility worth up to $200 million, led by the Hongkong and Shanghai Banking Corp. Limited (HSBC).
HSBC arranged the facility through its Asean Growth Fund, with participation from DBS Bank, Sumitomo Mitsui Banking Corp.’s Singapore branch, and Brunei’s Baiduri Bank. This funding will enhance Atome Financial’s portfolio and offerings, including its lending services and the Atome (Pay Later Anywhere) Card in key markets like Singapore, Malaysia, and the Philippines.
“This syndicated facility underscores the banking community’s trust and confidence in us,” said Andy Tan, chief commercial officer at Atome Financial. “We look forward to our partners supporting our capital needs and new personal finance products in these markets.”
Atome Financial’s growth shows its ability to cater to the region’s evolving financial needs. In 2023, its operating income nearly doubled to $170 million, a notable rise from $88 million in the previous year. Gross merchandise volume (GMV) processed by the company reached $1.5 billion, marking a 40% increase. Its buy-now-pay-later business also achieved profitability, driven by a 130% surge in revenue.
In early 2024, the company reached another milestone by becoming EBITDA positive.
“Through this syndicated facility, Atome Financial will bring greater financial inclusion to Southeast Asia,” said Priya Kini, head of Commercial Banking at HSBC Singapore. “Affordable and responsible finance solutions will now be accessible to more consumers across the region.”
With this financial boost, Atome Financial aims to address the unmet demand for accessible financing while continuing its upward trajectory.