Atome Financial, HSBC Singapore Seal USD100M Debt Facility

DigitalCFO Newsroom | 11 August 2022

Atome Financial today announced it has entered into an USD100M debt facility with HSBC Singapore to supercharge Atome Financial’s flexible deferred payments business across Asia.

Atome Financial is an umbrella business unit made up of two brands. The first is Asia’s fastest growing buy now pay later platform, Atome, which currently partners 15,000+ retail partners across 10 markets in Asia in providing consumer-friendly flexible deferred payment options. Key regional partners include Sephora, Agoda, ZALORA, SHEIN, Zara, Lazada, H&M, Nike, adidas and Charles & Keith. Atome officially launched its 10th market of operations in Japan recently. The second brand is digital lending platform Kredit Pintar in Indonesia, one of the largest digital lending apps in Indonesia with 20+ million downloads and provides mobile-first financial services especially among underbanked and underserved segments.

Atome Financial is a subsidiary of Singapore-based tech unicorn Advance Intelligence Group. Last September, the Group recently closed a USD 400M+ Series D financing round from an investor consortium led by SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore-based global investor EDBI, valuing the company at more than USD 2 billion.

HSBC is the structuring bank, lender, facility and security agent in providing a flexible, scaleable and pan-regional financing solution to support Atome Financial’s business expansion.

Regina Lee, Head of Commercial Banking, HSBC Singapore, said: “Singapore is home to innovative companies like Atome Financial, who are at the forefront of Southeast Asia’s new economy growth. We are very excited to support Atome Financial in their growth aspirations, as they drive broader financial inclusion across the region. By providing flexible funding arrangements in markets where HSBC also has an on-ground presence, and supported by our ability to execute multi-market and multi-currency deals, we are able to connect clients to international opportunities and open new markets.”

Trina Yeung, Chief Financial Officer, Atome Financial, said, “We’re humbled and excited to have the support of HSBC. It is testament to the trust and confidence they have in our mission and track record in using technology to provide consumers with easier, simpler, and more affordable access to digital-first financial services, so we can drive broader financial inclusion across both developed and emerging markets in Asia.”