TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
November 25, 2024
Source: Fintech Futures
Atome Financial, a subsidiary of Singapore-based AI-driven technology company Advance Intelligence Group, has bagged a syndicated credit facility of “up to $200 million”.
The investment is led by HSBC through its ASEAN Growth Fund, which recently provided a $50 million debt facility to Validus, with additional backing from DBS Bank, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch, and Brunei’s Baiduri Bank.
The new facility builds on Atome Financial’s existing relationship with HSBC, which renewed and increased its $100 million debt facility in August 2023.
Founded in 2019, Atome Financial operates Atome, a digital consumer financing platform which offers shoppers buy now, pay later (BNPL) services at popular online and offline retailers.
Atome Financial announced that the new funding follows a period of significant economic growth, with its operating income nearly doubling in FY2023 to $170 million, up from $88 million the previous year.
Furthermore, this capital complements Atome Financial’s $500 million, 10-year strategic partnership with Standard Chartered, established in 2021, as well as its $100 million debt facility secured from Singapore-headquartered VC firm EvolutionX Debt Capital in June this year.
The company says this latest 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”.