Atome, the Southeast Asian buy now pay later (BNPL) provider, has secured a $75million asset-backed financing facility from Lending Ark, marking a major milestone in Atome’s aim to accelerate financial inclusion in the Philippines.
Having secured the strategic financing from Lending Ark, Atome plans to continue its mission in the Philippines to improve access to risk-managed, responsible and sustainable credit products for Filipino consumers.
Lending Ark is a market leader in Asian asset-backed credit investments, having invested in excess of $1billion across the region. Lending Ark has pioneered the design of unique asset-backed investments across the Philippines, Hong Kong, South Korea, Australia/New Zealand, Indonesia and Vietnam.
“The Philippines is a key growth market for Atome,” explained Atome’s chief commercial officer, Andy Tan. “This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale. Lending Ark also supports our business in Indonesia and this latest expansion underscores the strength of our long-standing partnership. We’re grateful for their trust as we deepen our reach and empower more Filipinos with the tools to manage their finances responsibly.”
In 2024, Atome Financial, the platform comprising Atome and Kredit Pintar, announced full-year profitability after achieving 45 per cent YoY revenue growth to $280million and 35 per cent YoY growth in Gross Merchandise Value (GMV) to $2.5billion. The wallet platform also leveraged generative AI across its customer service, collections and product sales to achieve enhanced operational efficiency.
“Atome has cemented its position as a leading fintech player in Southeast Asia thanks to its unique strengths in credit risk management, responsible lending, and consumer empowerment,” said Carol Lee Park, MD of Lending Ark. “We’re excited to support Atome in the Philippines, a high-growth market with increasing demand for accessible, affordable credit and mobile-first financial solutions.”
Source: https://thefintechtimes.com/
