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Atome Financial gets USD 100 mln from HSBC Singapore

Friday 12 August 2022 12:50 CET | News

Fintech providing BNPL services and digital finance services, Atome Financial, has announced it received USD 100 million worth of debt facility from HSBC Singapore to boost its flexible deferred payments business across Asia.

The fintech is an umbrella business unit made up of BNPL platform Atome and digital lending platform Kredit Pintar, headquartered in Indonesia. It is a subsidiary of Singapore-based Unicorn Advance Intelligence Group.

The road to success

In September 2021, the group closed more than USD 400 million in a Series D funding round led by investors SoftBank Vision Fund 2, with the participation of Warburg Pincus, NorthStar, and EDBI, being valued at more than USD 2 billion.

At the same time, the HSBC banking group is the structuring bank, lender, facility, and security agent that provides a flexible, scalable, and regional financing solution aiming to support Atome Financial’s business expansion across the Asian continent.

What makes Singapore special?

Singapore is home to some of the most innovative companies in the fintech industry and has long represented a haven for technology firms who aim to change the world. These fintechs are the forefront of Southeast Asia’s new economy growth. By investing in Atome Financial, HSBC Singapore will drive financial and economic inclusion across the region, while helping people boost their living standards by providing access to extra capital through BNPL solutions.

Fintech providing BNPL services and digital finance services, Atome Financial, has announced it received USD 100 million worth of debt facility from HSBC Singapore to boost its flexible deferred payments business across Asia.

 

About the companies

Atome is part of Advance Intelligence Group, based in Singapore, an AI-driven tech company with operations in Latin America, Greater China, South Asia, and Southeast Asia. It is using technology to provide customers with easier, simpler, and more affordable access to digital-first financial services, to drive financial inclusion across developed and emerging markets in Asia.

At the same time, HSBC Singapore is the local branch of the HSBC Holdings, a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets, counting almost USD 3 trillion. In 2021, the bank had over USD 10.8 trillion in assets under custody and around USD 5 trillion in assets under administration. 

The Singaporean branch of the bank provides a series of financial products and services, including mortgages, savings, investments, and credit cards, to both citizens of the country and companies headquartered there.

Source: Link


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Keywords: fintech, financial inclusion, BNPL, online banking, digital banking, funding, crowdfunding, Unicorn, digital payments, digitalisation, instalment payments
Categories: Payments & Commerce
Companies: Atome Financial, HSBC
Countries: Singapore
This article is part of category

Payments & Commerce

Atome Financial

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HSBC

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