Southeast Asia’s buy now, pay later (BNPL) platform Atome has secured a US$75 million asset-backed financing facility from Lending Ark, a move aimed at accelerating the company’s push for broader financial inclusion in the Philippines.
The facility, provided by Lending Ark Asia Secured Private Debt Fund and advised by CITIC Securities CLSA Capital Partners (HK) Ltd., will support Atome’s efforts to expand access to consumer credit in a mobile-first market where traditional financial access remains limited.
The deal comes amid rising demand for accessible and responsible credit solutions in the Philippines, particularly among unbanked and underbanked consumers.
Atome plans to use the funds to scale its suite of risk-managed digital lending products, which span BNPL, insurance, savings, and personal loans.
Atome, part of Singapore-based Advance Intelligence Group, has grown rapidly across Southeast Asia and is already supported by major financial institutions such as Standard Chartered, HSBC, DBS, and SMBC.
The company reported full-year profitability in FY2024, driven by 45% year-on-year revenue growth to US$280 million and 35% growth in Gross Merchandise Value (GMV) to US$2.5 billion. Operational efficiency initiatives, including the adoption of generative AI across customer service and collections, contributed to margin improvements.
Lending Ark, a leading player in Asian asset-backed credit investments, has deployed over US$1 billion across the region. It has previously supported Atome’s business in Indonesia and is now extending that backing into the Philippines, a key growth market for fintech expansion.
The latest financing signals investor confidence in Atome’s ability to scale profitably while maintaining strict credit controls in emerging markets. The firm’s multi-country growth strategy continues to be underpinned by a strong institutional funding base and support from global investors including SoftBank Vision Fund 2, Warburg Pincus, Northstar, and Singapore’s EDBI.
As competition heats up in Asia’s digital lending space, Atome’s asset-backed facility provides fresh capital to expand its footprint and further entrench its position in one of the region’s fastest-growing consumer finance markets.
Business News Asia