Manila, Philippines – Digital financial technology platform Atome Financial has recently announced that it has secured a three-year term loan facility from EvolutionX Debt Capital.
The company is also collaborating with a group of investors to maximise the accordion feature of the facility, potentially increasing the total amount to US$100m.
For this initiative, the company aims to establish a facility that will drive expansion of the company’s profitable regional credit portfolio and support the launch of new products including savings, lending, insurance, and Atome Card (Pay Later Anywhere) in markets like Singapore, Malaysia, the Philippines, and Indonesia.
Rahul Shah, partner at EvolutionX, said, “We have been impressed by Atome Financial’s management team and support from long-term investors and partners, underpinned by strong focus on risk management and operational efficiency, which has resulted in sustainable and profitable business growth. The launch of innovative and fit-for-market solutions like the Atome Card (PayLater Anywhere) and lending products demonstrates their ability to expand offerings while leveraging local market expertise.”
“This is our first fintech investment in Southeast Asia, and we’re excited to support Atome Financial in their ongoing journey to improve financial inclusion and access to mobile-first financial services in large underserved markets in Southeast Asia,” he added.
Jefferson Chen, Group co-founder and CEO at Advance Intelligence Group, further said, “With Atome Financial having reached profitability earlier this year, we’re excited to partner EvolutionX for our next stage of growth.”
“This new facility recognises Atome Financial’s operational excellence and platform value as we look to accelerate the momentum of our digital financial services business, the expansion of regional strategic partnerships like TikTok Shop and Lazada as well as the launch of the new Atome Card, savings and lending products across key Southeast Asian markets,” concluded Jeffferson.
Atome Financial is part of the 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.
