Atome has secured a US$75 million asset-backed financing facility from Lending Ark to support its lending operations in the Philippines.
The funding is aimed at improving access to credit in the country and comes amid growing demand for mobile-first financial solutions.
The facility was arranged through the Lending Ark Asia Secured Private Debt Fund, which is advised by CITIC Securities CLSA Capital Partners.
Atome, part of Advance Intelligence Group, operates as a buy now pay later provider in Southeast Asia.
Its local operations focus on offering credit products to Filipino consumers, with an emphasis on responsible lending.
The announcement follows a profitable fiscal year for Atome Financial, the lending arm of the group that includes both Atome and Kredit Pintar.
In FY2024, the platform recorded a 45 percent year-on-year increase in revenue to US$280 million and a 35 percent rise in Gross Merchandise Value to US$2.5 billion.
“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.
“The Philippines is a key growth market for Atome. 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,”
said Andy Tan, Chief Commercial Officer, Atome.
Featured image: Edited by Fintech News Singapore, based on image by svstrelkov via Freepik
