Atome Financial Secures Up To US$100 Million Debt Facility

Republished By Plato

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Atome Financial, a digital financial technology platform in Southeast Asia and part of Advance Intelligence Group, has secured a three-year debt facility from EvolutionX Debt Capital.

This marks EvolutionX Debt Capital’s first fintech investment in Southeast Asia and includes an ‘accordion feature,’ allowing the facility to potentially increase up to US$100 million based on company needs and additional investor participation.

This feature provides flexibility, enabling Atome Financial to scale the facility’s size as its expansion and financial requirements evolve.

The financing is intended to support Atome Financial’s expansion across Singapore, Malaysia, the Philippines, and Indonesia.

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It aims to strengthen the company’s profitable credit portfolio and facilitate the introduction of new financial products, including savings, lending services, insurance offerings, and the Atome Card (Pay Later Anywhere).

Under the leadership of Atome Financial, which includes Atome Buy-Now-Pay-Later and Indonesia’s Kredit Pintar, the platform has reportedly shown robust performance.

In FY2023, the company nearly doubled its operating income to US$170 million, driven by a 40% increase in Gross Merchandise Volume (GMV) to US$1.5 billion and a 130% year-on-year revenue growth.

Atome Financial had achieved profitability in the first quarter of FY2024, supported by enhanced operational efficiencies, and expanded regional partnerships with major e-commerce platforms like TikTok Shop and Lazada.

The company is backed by SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore-based global investor EDBI.

Rahul Shah

Rahul Shah, Partner at EvolutionX, said,

“We have been impressed by Atome Financial’s management team and support from long-term investors and partners, underpinned by strong focus on risk management and operational efficiency, which has resulted in sustainable and profitable business growth.

The launch of innovative and fit-for-market solutions like the Atome Card (PayLater Anywhere) and lending products demonstrates their ability to expand offerings while leveraging local market expertise.”

Jefferson Chen

Jefferson Chen, Group co-founder and CEO of Advance Intelligence Group, said,

“With Atome Financial having reached profitability earlier this year, we’re excited to partner EvolutionX for our next stage of growth.

This new facility recognises Atome Financial’s operational excellence and platform value as we look to accelerate the momentum of our digital financial services business, the expansion of regional strategic partnerships like TikTok Shop and Lazada as well as the launch of the new Atome Card, savings and lending products across key Southeast Asian markets.”

Featured image credit: Edited from Freepik