Atome Financial Acquires $100M Debt Facility from HSBC Singapore

Atome Financial recently revealed that it has committed to a $100 million debt facility with HSBC Singapore in order to support its flexible deferred payments business across Asian markets.

The Fintech firm is an umbrella business division that’s made up of two main brands; buy now pay later platform Atome and online lending platform Kredit Pintar in Indonesia. It is a subsidiary of Singapore-headquartered technology firm Advance Intelligence Group.

This past September, the Group recently finalized a $400 million Series D investment round from an investor consortium that was led by SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore’s international investor EDBI, valuing the firm at over $2 billion.

As noted in the update, HSBC is the structuring bank, lender, facility and security agent in offering a flexible, scaleable and pan-regional financing service in order support Atome Financial’s business expansion efforts.

Regina Lee, Head of Commercial Banking, HSBC Singapore, stated:

“Singapore is home to innovative companies like Atome Financial, who are at the forefront of Southeast Asia’s new economy growth. We are very excited to support Atome Financial in their growth aspirations, as they drive broader financial inclusion across the region. By providing flexible funding arrangements in markets where HSBC also has an on-ground presence, and supported by our ability to execute multi-market and multi-currency deals, we are able to connect clients to international opportunities and open new markets.”

Trina Yeung, Chief Financial Officer, Atome Financial, remarked:

“We’re humbled and excited to have the support of HSBC. It is testament to the trust and confidence they have in our mission and track record in using technology to provide consumers with easier, simpler, and more affordable access to digital-first financial services, so we can drive broader financial inclusion across both developed and emerging markets in Asia.”

As covered recently, Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has partnered with Atome, which claims to be Asia’s leading Buy Now Pay Later (BNPL) brand, to “enable flexible deferred payment acceptance during checkout at online and offline RMS merchants.”

Starbucks is among the first RMS merchants “to pioneer Atome’s flexible payment method through this partnership.”

Through this partnership between RMS and Atome, customers of Starbucks and other B2C merchants with BNPL enabled “can enjoy the benefits from flexible deferred payments, making their products more attainable.”

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