- HSBC acts as the facility’s mandated lead arranger and sole bookrunner
- DBS, SMBC, and Baiduri Bank also contribute to the facility
- Funding to support the rapid growth of Atome Financial’s regional portfolio
Singapore, 20 November 2024 – Atome Financial, Southeast Asia’s leading digital financial services platform, has successfully secured a syndicated credit facility of up to US$200 million, with Hongkong and Shanghai Banking Corporation Limited (HSBC) acting as the mandated lead arranger and sole bookrunner.
This facility, anchored by HSBC through its ASEAN Growth Fund, is further supported by DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore Branch, and Brunei’s Baiduri Bank. The funding aims to accelerate the growth of Atome Financial’s profitable regional portfolio and enhance its offerings, including its lending services and the Atome (Pay Later Anywhere) Card, across key Southeast Asian markets.
Andy Tan, Chief Commercial Officer at Atome Financial, stated, “As a fast-growing startup with a robust and profitable business, we are extremely grateful for this syndicated facility, which reflects the banking community’s trust and confidence in our capabilities. We are excited about collaborating with HSBC and our other partners to meet our capital requirements and launch innovative personal finance solutions in strategic markets such as Singapore, Malaysia, and the Philippines.”
Priya Kini, Head of Commercial Banking at HSBC Singapore, commented, “We are proud to lead this syndicated facility alongside other trusted lenders. By supporting Atome Financial, we aim to enhance financial inclusion by extending access to affordable and responsible personal finance solutions to consumers across Southeast Asia.”
Atome Financial reported remarkable growth in FY2023, with operating income nearly doubling to US$170 million compared to US$88 million in the previous year. The company also processed a Gross Merchandise Volume (GMV) of nearly US$1.5 billion in 2023, a 40% increase from the prior year. This significant growth, coupled with a 130% surge in revenue, allowed Atome’s buy-now-pay-later business to turn profitable. Furthermore, in the first quarter of 2024, Atome Financial reached another key milestone by becoming EBITDA positive.
The new syndicated facility of up to US$200 million builds on Atome Financial’s previous funding arrangement with HSBC and welcomes new partners, including DBS, SMBC, and Baiduri Bank.
Earlier in June, the company also announced a three-year term facility worth up to US$100 million, secured from EvolutionX Debt Capital and other investors, underscoring its continued commitment to driving innovation and growth in the region’s financial landscape.
