Singapore – Atome Financial has secured a syndicated credit facility of up to US$200m, led and arranged by Hong Kong and Shanghai Banking Corporation Limited (HSBC), to support its expansion and financial inclusion initiatives across Southeast Asia.
The facility will drive the expansion of Atome Financial’s profitable regional portfolio, including products like lending and the Atome (Pay Later Anywhere) Card, across key markets in SEA.
Atome’s facility is anchored by HSBC’s ASEAN Growth Fund, with additional support from DBS Bank Ltd., Sumitomo Mitsui Banking Corporation’s (SMBC) Singapore branch, and Brunei’s Baiduri Bank. This expands on Atome Financial’s existing relationship with HSBC while welcoming new partners DBS, SMBC, and Baiduri Bank.
“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,” said Andy Tan, chief commercial officer at Atome Financial.
“We look forward to HSBC and our other partners continuing to support our capital needs and the launch of new and innovative personal finance products in key markets like Singapore, Malaysia, and the Philippines,” added Tan.
“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,” said Priya Kini, head of commercial banking at HSBC Singapore.
Atome Financial’s operating income nearly doubled to US$170m in FY2023, up from US$88m the previous year. Its GMV reached US$1.5b, a 40% increase, while the buy-now-pay-later business became profitable, driven by a 130% revenue surge.
In the first quarter of 2024, Atome Financial achieved another significant milestone by turning EBITDA positive.
Earlier in June, Atome Financial also secured a three-year term facility of up to US$100m from EvolutionX Debt Capital and other investors.
