Atome Financial, a financial technology platform under Advance Intelligence Group, has secured an $80-million credit facility with backing from BlackRock’s private credit fund and InnoVen Capital. The funding expands an earlier three-year senior secured term loan facility announced in June 2024, initially funded by EvolutionX Debt Capital.
BlackRock’s private credit team brings experience in private investments, while InnoVen Capital, a venture debt provider under Temasek Holdings’ Seviora and UOB, supports early- and growth-stage companies in Southeast Asia, China, and India.
“Southeast Asia is one of the fastest-growing regions in the world where we see attractive private credit investment opportunities,” said Celia Yan, head of Apac Private Credit at BlackRock. “Atome Financial has established itself as a leading fintech player in the region, and we look forward to continuing to support their accelerated expansion.”
Buy Now, Pay Later
Atome Financial operates Atome Buy-Now-Pay-Later (BNPL) and Kredit Pintar, a digital lending platform in Indonesia. In fiscal year 2024, the company reported 45% year-over-year revenue growth, reaching $280 million. Gross Merchandise Value (GMV) also rose by 35% to $2.5 billion. The company optimized its product profitability and improved operational efficiency by using generative AI (GenAI) in customer service, collections, and product sales, achieving full-year profitability.
“This facility will help propel the growth of our expanded product suite, strategic partnerships, and profitable regional portfolio to better serve the diverse financial needs of consumers across key Southeast Asia markets, including Singapore, Malaysia, the Philippines, and Indonesia,” said Andy Tan, chief commercial officer of Atome Financial.
The company expects its positive momentum to continue into fiscal year 2025, supporting its expansion efforts across the region.