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News

Atome Financial receives nearly USD 100 million growth debt facility

Tuesday 25 June 2024 10:17 CET | News

Fintech company Atome Financial has announced that it obtained a three-year term loan facility from EvolutionX Debt Capital to support its expansion across Southeast Asia.

In addition to receiving the three-year term loan facility from EvolutionX, Atome Financial is currently collaborating with a syndicate of investors to leverage the accordion feature of the facility which can expand the total amount to reach nearly USD 100 million. By securing the facility, the company intends to advance the expansion of its profitable regional credit portfolio and assist in the introduction of additional products, including savings, lending, insurance, and Atome Card in markets such as Singapore, Malaysia, the Philippines, and Indonesia.

Atome Financial has announced that it obtained a three-year term loan facility from EvolutionX Debt Capital to support its expansion across Southeast Asia.

Furthermore, as a growth-stage debt financing platform, EvolutionX delivers financial support to technology-enabled companies operating across Asia, with a focus on China, India, and Southeast Asia. By investing its funds into technology firms and entrepreneurs who work towards improving traditional industries, the company intends to accelerate the digitisation of Asia’s economy.

How will Atome Financial leverage the funds?

According to EvolutionX’s officials, the decision to invest in Atome Financial can be attributed to the firm’s focus on risk management and operational efficiency, as well as its sustainable business growth. Also, launching solutions that serve the needs of the market, including the Atome Card (PayLater Anywhere) and lending products, highlights Atome Financial’s ability to expand offerings while utilising local market knowledge. EvolutionX plans to support the fintech in its ongoing strategy to increase financial inclusion and access to financial services in underserved markets in Southeast Asia.

Moreover, representatives from Advance Intelligence Group, the parent company of Atome Financial, underlined that the new facility highlights its subsidiary's operational capabilities and intends to accelerate its digital financial services business, the expansion of regional strategic partnerships, and the launch of the Atome Card, savings, and lending products across Southeast Asian markets.

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Keywords: funding, growth markets, expansion, product launch, fintech, digitalisation, lending, insurance, financial inclusion
Categories: Banking & Fintech
Companies: Atome Financial
Countries: Asia
This article is part of category

Banking & Fintech

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Atome Financial

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