Atome, Southeast Asia’s largest buy now, pay later provider and a subsidiary of Advance Intelligence Group, has secured a $75 million asset-backed financing facility from Lending Ark. The funding will support Atome’s efforts to broaden access to responsible and structured credit products in the Philippines, a key growth market for the company. Lending Ark Asia Secured Private Debt Fund, advised by CITIC Securities CLSA Capital Partners (HK) Limited, provided the facility. Carol Lee Park, Managing Director at Lending Ark, commented, “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.”
Andy Tan, Chief Commercial Officer at Atome, noted that the new funding reflects confidence in Atome’s ability to deliver sustainable credit at scale. “We’re grateful for their trust as we deepen our reach and empower more Filipinos with the tools to manage their finances responsibly,” he said. The financing comes on the back of a strong FY2024 performance by Atome Financial, which reported $280 million in revenue, a 45% increase year-over-year, and $2.5 billion in Gross Merchandise Value. The group also achieved profitability, driven by a focus on product efficiency and the use of generative AI in operations.
