Atome, a leading buy now, pay later (BNPL) platform in Southeast Asia and part of Advance Intelligence Group, has announced a new US$75 million asset-backed financing facility secured from Lending Ark. The funding marks a significant step in Atome’s efforts to expand access to responsible credit in the Philippines.
The agreement, supported by the Lending Ark Asia Secured Private Debt Fund and advised by CITIC Securities CLSA Capital Partners (HK) Limited, will allow Atome to scale its operations and enhance financial access for Filipino consumers. The financing is focused on supporting Atome’s portfolio of risk-managed and sustainable credit products in the country.
Strengthening its presence in Southeast Asia
Lending Ark is known for its leadership in asset-backed credit across Asia, with a portfolio that spans the Philippines, Indonesia, Hong Kong, South Korea, Australia, New Zealand, and Vietnam. To date, it has invested US$1 billion in the region.
“Atome has cemented its position as a leading fintech player in Southeast Asia thanks to its unique strengths in credit risk management, responsible lending, and consumer empowerment,” said Carol Lee Park, Managing Director of Lending Ark. “We’re excited to support Atome in the Philippines, a high-growth market with increasing demand for accessible, affordable credit and mobile-first financial solutions.”
This latest injection of capital also builds on Lending Ark’s previous support for Atome’s operations in Indonesia, reflecting a broader strategic partnership between the two companies. The funds will help Atome deepen its market reach while continuing to offer affordable and regulated credit options.
Growth driven by strong financial performance
The financing follows a strong year for Atome Financial, which serves as the digital wallet and credit arm of Advance Intelligence Group. Comprising both Atome and the Indonesia-based Kredit Pintar, Atome Financial recorded several key milestones in FY2024.
The group achieved full-year profitability, driven by a 45% year-on-year increase in revenue, reaching US$280 million. Gross Merchandise Value (GMV) also grew by 35% to US$2.5 billion. The positive performance came from ongoing efforts to optimise product portfolio profitability and improve operational efficiency, including the integration of generative AI in customer service, collections, and product sales.
Andy Tan, Chief Commercial Officer at Atome, said the funding reaffirms external confidence in the company’s scalable, inclusive credit model. “The Philippines is a key growth market for Atome. This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale,” he said. “Lending Ark also supports our business in Indonesia and this latest expansion underscores the strength of our long-standing partnership. We’re grateful for their trust as we deepen our reach and empower more Filipinos with the tools to manage their finances responsibly.”
Looking ahead
With the new facility, Atome aims to accelerate its mission of improving financial inclusion in the Philippines, offering digital credit to underbanked consumers while ensuring responsible lending standards. The funding is expected to support further growth in digital transactions and reinforce Atome’s position as a key fintech player in the region.
