20 Nov Atome secures $200-M credit facility
DIGITAL financial service platform Atome Financial said it secured as much as $200 million in syndicate credit facility, which will open up more financing in the Southeast Asian region.
This would allow it to launch innovative personal finance products in key markets like Singapore, Malaysia and the Philippines, Atome Financial Chief Commercial Officer Andy Tan said in a statement.
The facility is being led and arranged by HSBC, it said, and would be supported by DBS Bank Ltd., Sumitomo Mitsui Banking Corp. (SMBC) Singapore and Brunei’s Baiduri Bank.
“The facility will accelerate the expansion of Atome Financial’s profitable regional portfolio and products such as lending and the Atome ‘Pay Later Anywhere’ card in key Southeast Asian markets,” it said.
“Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” HSBC Singapore Head of Commercial Banking Priya Kini said.
In June, Atome Financial got a three-year term loan facility to launch new products in the Philippines, Singapore, Malaysia and Indonesia. — Luisa Maria Jacinta C. Jocson