Atome Financial lands $200m credit facility led by HSBC
Atome Financial, a subsidiary of Singapore-based AI-driven technology company Advance Intelligence Group, has bagged a syndicated credit facility of “up to $200 million”.
Atome Financial lands $200 million credit facility
The investment is led by HSBC through its ASEAN Growth Fund, which recently provided a $50 million debt facility to Validus, with additional backing from DBS Bank, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch, and Brunei’s Baiduri Bank.
The new facility builds on Atome Financial’s existing relationship with HSBC, which renewed and increased its $100 million debt facility in August 2023.
Founded in 2019, Atome Financial operates Atome, a digital consumer financing platform which offers shoppers buy now, pay later (BNPL) services at popular online and offline retailers.
Atome Financial announced that the new funding follows a period of significant economic growth, with its operating income nearly doubling in FY2023 to $170 million, up from $88 million the previous year.
Furthermore, this capital complements Atome Financial’s $500 million, 10-year strategic partnership with Standard Chartered, established in 2021, as well as its $100 million debt facility secured from Singapore-headquartered VC firm EvolutionX Debt Capital in June this year.
The company says this latest facility will “accelerate the expansion of Atome Financial’s profitable regional portfolio and products such as lending and the Atome (Pay Later Anywhere) Card in key Southeast Asian markets”.
