Atome Financial has announced that it has renewed and expanded its partnership with HSBC Singapore to include the Philippine market to its US$100m debt facility.
At the moment, Atome has reportedly “disbursed more than US$4b in loans.”
Atome Financial and HSBC Singapore had “entered into this partnership back in August 2022.” It also had “a previous US$500m financing facility partnership with Standard Chartered, which ended after 10 years in October 2021.”
Andy Tan, head of funding at Atome Financial, said:
“We’re excited to have the renewed support of HSBC, especially as it now includes the Philippines, a key strategic market for us in providing unbanked and underbanked consumers with easier, simpler, and more affordable access to digital-first consumer financing products.”
Harish S Venkatesan, managing director and head of international subsidiary banking at HSBC Singapore, commented:
“It pleases us to see innovative companies like Atome Financial lead the charge in driving Southeast Asia’s new economy growth. We are glad to play a role in supporting their ambition and remain committed to tap on HSBC’s global network, strong regional presence as well as suite of banking capabilities to support their expansion in the region.”
Atome is part of the Advance Intelligence Group.
Headquartered in Singapore, Advance Intelligence Group claims that it is “one of the largest independent financial services-focussed technology startups in Asia.”
Backed by investors such as Softbank Vision Fund 2, Warburg Pincus, Northstar Group, Standard Chartered Bank and Singapore-based EDBI, Group has “raised over USD 700 million in funding to-date and has secured capital in excess of USD 1 billion supporting its credit book.”
Today, the Group “serves 500+ enterprise clients, 235,000 merchants and 40 million individual consumers. Since inception, it has disbursed over USD 4 billion in loans.”
They are committed “to leveraging innovative technology and partnerships to build an ecosystem of products and services to serve consumers, enterprises and merchants.”
They are “a Series D-backed company with 1,500+ employees across Asia and Middle East.”
They serve enterprise, consumers and merchants through their 3 Business Units:
- ADVANCE.AI is a leading leading end-to-end SaaS risk management company providing KYC/KYB digital identity, compliance, fraud prevention, and process automation for enterprise clients.
- Atome Financial offers consumers greater financial access and inclusivity through Atome, the region’s leading “buy now pay later” brand, and digital lending app Kredit Pintar in Indonesia.
- Ginee is an e-commerce merchant services technology platform serving numerous markets in Southeast Asia; providing comprehensive digital solutions for e-commerce, retail, brand and enterprise customers.
They are united by a shared vision and purpose: to Advance with Intelligence “for a Better Life–for our customers, colleagues and communities.”