Atome Financial, Southeast Asia’s leading digital financial technology platform and a part of Advance Intelligence Group, secured a three-year term loan facility from EvolutionX Debt Capital.
It said it is working with a syndicate of investors to fully utilize the accordion feature of the facility which can increase the total amount to $100 million.
The new facility will drive expansion of the company’s profitable regional credit portfolio and support the launch of new products such as savings, lending, insurance and Atome Card (Pay Later Anywhere) in Singapore, Malaysia, the Philippines and Indonesia.
Atome Financial, which comprises Atome Buy-Now-Pay-Later and Kredit Pintar, a leading Indonesian leading digital lending platform, posted impressive business performance in 2023, with operating income nearly doubling to $170 million from a year earlier.
It is part of Singapore-headquartered Advance Intelligence Group, which is backed by top tier investors such as SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore-based global investor EDBI.