Atome, Singapore-based buy now pay later (BNPL) provider and part of Advance Intelligence Group, announced Monday that it has secured a $75 million asset-backed financing facility from Lending Ark, to accelerate financial inclusion in the Philippines.

Atome said in a statement that this strategic financing from Lending Ark Asia Secured Private Debt Fund advised by CITIC Securities CLSA Capital Partners (HK) Limited, will further its aim in the Philippines to improve access to risk-managed, responsible and sustainable credit products for Filipino consumers.

Lending Ark is an Asian asset-backed credit investments firm, having invested $1 billion across the region.

The firm has pioneered the design of unique asset-backed investments across the Philippines, Hong Kong, South Korea, Australia/New Zealand, Indonesia and Vietnam.

“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,

“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,” said Carol Lee Park, Managing Director of Lending Ark.

Meanwhile, Andy Tan, Chief Commercial Officer, Atome, said the Philippines is a key growth market for the firm.

HE also said this financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale.

“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,” he added.

In FY2024, Atome Financial – the “wallet platform” of Advance Intelligence Group comprising of Atome and Kredit Pintar – achieved full-year profitability due to 45 percent year on year revenue growth to $280 million; 35 percent year on year growth in gross merchandise value (GMV) to $2.5 billion; product portfolio profitability optimization; operational efficiency via generative artificial intelligence (Gen AI) across customer service, collections and product sales.

Atome has expanded beyond BNPL and now offers insurance, savings, cards and lending services.

The firm’s market leadership is backed by institutional funding partners including Standard Chartered, HSBC, Bank Jago, DBS Bank, SMBC, BlackRock, Evolution X Capital, InnoVen Capital and many others.

Atome is supported by Invested Asia Fund, a private credit fund managed by First Degree Global Asset Management offered to accredited investors, and serving as a dedicated investment vehicle supporting the company’s exceptional growth.

Atome is part of Singapore-headquartered Advance Intelligence Group, which is backed by top tier investors SoftBank Vision Fund 2, Warburg Pincus, Northstar, and Singapore-based global investor EDBI.



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