Atome to get US$75 million from Lending Ark as credit demand grows
[HONG KONG] Atome, South-east Asia's biggest buy now, pay later provider, secured a US$75 million asset-backed financing facility from Lending Ark, as demand for affordable credit grows in the Philippines.
The financing will help Atome to broaden its credit offerings and expand financial access in the Philippines, according to a statement on Monday (Jun 9).
Atome is owned by Singapore-headquartered Advance Intelligence Group, which is backed by investors including SoftBank Vision Fund 2, Warburg Pincus and Northstar.
As traditional credit markets in the US and Europe falter, private credit investors are turning their attention to emerging markets such as the Philippines, drawn by the promise of stronger growth and higher returns.
Atome offers insurance, savings, cards and lending services. Lending Ark, advised by Citic Securities CLSA Capital Partners, has deployed more than US$1 billion across Asia-Pacific, according to Monday's statement.
Atome Financial, the digital finance unit of Advance Intelligence Group and operator of Atome and Kredit Pintar, said its 2024 revenue jumped 45 per cent to US$280 million. BLOOMBERG
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Business Times
an hour ago
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The US$30 million plan to overhaul tourism around Egypt's pyramids
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