Atome, the Southeast Asian purchase now pay later (BNPL) supplier, has secured a $75million asset-backed financing facility from Lending Ark, marking a significant milestone in Atome’s intention to speed up monetary inclusion within the Philippines.
Having secured the strategic financing from Lending Ark, Atome plans to proceed its mission within the Philippines to enhance entry to risk-managed, accountable and sustainable credit score merchandise for Filipino shoppers.
Lending Ark is a market chief in Asian asset-backed credit score investments, having invested in extra of $1billion throughout the area. Lending Ark has pioneered the design of distinctive asset-backed investments throughout the Philippines, Hong Kong, South Korea, Australia/New Zealand, Indonesia and Vietnam.
“The Philippines is a key progress marketplace for Atome,” defined Atome’s chief industrial officer, Andy Tan. “This financing displays the continued confidence in Atome’s skill to ship inclusive, risk-managed credit score at scale. Lending Ark additionally helps our enterprise in Indonesia and this newest enlargement underscores the energy of our long-standing partnership. We’re grateful for his or her belief as we deepen our attain and empower extra Filipinos with the instruments to handle their funds responsibly.”
In 2024, Atome Monetary, the platform comprising Atome and Kredit Pintar, introduced full-year profitability after attaining 45 per cent YoY income progress to $280million and 35 per cent YoY progress in Gross Merchandise Worth (GMV) to $2.5billion. The pockets platform additionally leveraged generative AI throughout its customer support, collections and product gross sales to attain enhanced operational effectivity.
“Atome has cemented its place as a number one fintech participant in Southeast Asia because of its distinctive strengths in credit score danger administration, accountable lending, and client empowerment,” mentioned Carol Lee Park, MD of Lending Ark. “We’re excited to help Atome within the Philippines, a high-growth market with growing demand for accessible, reasonably priced credit score and mobile-first monetary options.”
