Heaptalk, Jakarta — Atome Financial has secured a syndicated credit facility of US$200 million, led by Hong Kong and Shanghai Banking Corporation Limited (HSBC).
The new facility is anchored by HSBC through its ASEAN Growth Fund and supported by DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch, and Brunei’s Baiduri Bank. The fund will accelerate the expansion of Atome Financial’s profitable regional portfolio and products, such as lending and the Atome (Pay Later Anywhere) Card, in key Southeast Asian markets, including Indonesia.
“We deeply appreciate this syndicated facility, which underscores the banking community’s trust and confidence in us. We look forward to HSBC and other partners continuing to support our capital needs and launch new and innovative personal finance products in key markets like Singapore, Malaysia, and the Philippines,” Chief Commercial Officer of Atome Financial, Andy Tan, said.
In its growth, Atome Financial’s operating income in FY2023 nearly doubled to US$170 million, marking an impressive jump from the previous year’s US$88 million. With GMV of almost US$1.5 billion processed in 2023, a 40% increase from the preceding year – Atome’s buy-now-pay-later business also turned profitable, thanks to a 130% surge in revenue. In the first quarter of 2024, Atome Financial achieved another significant milestone by turning EBITDA positive.
As is known, this new syndicated facility of up to US$200 million expands from Atome Financial’s previous arrangement with HSBC while adding new partners DBS, SMBC, and Baiduri Bank. Earlier in June, Atome Financial also announced it had secured a three-year term facility worth up to USD100 million from EvolutionX Debt Capital and other investors.
“We are pleased to deepen our support to lead this syndicated facility and 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 Southeast Asian consumers,” said Priya Kini, Head of Commercial Banking, HSBC Singapore.
