Atome Financial has secured a significant three-year term loan facility from EvolutionX Debt Capital (“EvolutionX”), with the potential to expand the facility to up to US$100 million through a syndicate of investors. This financial boost is set to drive the company’s profitable growth across Southeast Asia.
The newly secured funds will be used to expand Atome Financial’s regional credit portfolio and support the launch of innovative products such as savings, lending, insurance, and the Atome Card (Pay Later Anywhere). These offerings will be introduced in key markets including Singapore, Malaysia, the Philippines, and Indonesia.
Atome Financial, which includes the Atome Buy-Now-Pay-Later (BNPL) service and Kredit Pintar, a leading Indonesian digital lending platform, demonstrated exceptional performance in FY2023. The company’s operating income nearly doubled to US$170 million, driven by the profitability of its BNPL business. The BNPL segment saw a 40% year-on-year increase in Gross Merchandise Value (GMV) to US$1.5 billion and a 130% year-on-year growth in revenue, despite a challenging economic environment.
This positive trajectory continued into FY2024, with Atome Financial announcing in April that it had achieved profitability in the first quarter of the year.
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