Atome Financial, one of Southeast Asia’s leading digital financial services platforms, has secured a syndicated credit facility of up to US$200 million. The Hongkong and Shanghai Banking Corporation Limited (HSBC) has been named the mandated lead arranger and sole book runner for the facility.
The funding, anchored by HSBC through its ASEAN Growth Fund, also includes contributions from DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch, and Brunei’s Baiduri Bank. The facility is set to fast-track Atome Financial’s growth in the region, expanding its portfolio of lending services and driving the adoption of its flagship Atome (Pay Later Anywhere) Card across key markets like Singapore, Malaysia, and the Philippines.
A milestone in Atome Financial’s growth
Andy Tan, Chief Commercial Officer at Atome Financial, expressed gratitude for the banking community’s confidence in the company. “As a fast-growing startup with a rapidly growing and profitable business, we are deeply appreciative of this syndicated facility, which underscores the banking community’s trust and confidence in us,” he said. “We look forward to HSBC, and our other partners, continuing to support our capital needs and launch of new and innovative personal finance products in key markets like Singapore, Malaysia, and the Philippines.”
The facility is a significant step forward for Atome Financial, building on its impressive performance in recent years. In FY2023, Atome’s operating income nearly doubled to US$170 million, up from US$88 million in FY2022. The company processed a Gross Merchandise Volume (GMV) of nearly US$1.5 billion in 2023, marking a 40% increase from the prior year. Atome Financial’s buy-now-pay-later service also turned profitable during this period, with revenues surging by 130%.
In early 2024, Atome Financial reached another milestone by achieving EBITDA positive status in the first quarter.
Financial inclusion through innovative solutions
The funding is part of Atome Financial’s broader commitment to fostering financial inclusion in Southeast Asia. HSBC’s Head of Commercial Banking in Singapore, Priya Kini, emphasised the importance of the partnership. “We are pleased to deepen our support to lead this syndicated facility, along with other lenders. Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” she said.
This new facility builds on Atome Financial’s previous collaboration with HSBC and introduces additional banking partners to strengthen its financial position. Earlier in June, Atome Financial secured a three-year term facility of up to US$100 million from EvolutionX Debt Capital and other investors, further demonstrating its ability to attract substantial financial backing.
With its robust growth trajectory and innovative products, Atome Financial is well-positioned to continue reshaping personal finance in Southeast Asia, bringing accessible and responsible solutions to a growing number of consumers.
