SINGAPORE — Southeast Asian “buy now pay later” provider or fintech firm, Atome, said on Monday that it has secured a $75 million asset-backed financing facility from Lending Ark Asia Secured Private Debt Fund to expand in the Philippines.
Atome is part of Singapore-headquartered Advance Intelligence Group, which is backed by investors including SoftBank Vision Fund 2 and Warburg Pincus.
Lending Ark, advised by CITIC Securities CLSA Capital Partners (HK) Ltd, focuses on secured private credit opportunities in Asia Pacific.
“The Philippines is a key growth market for Atome,” Andy Tan, Atome’s Chief Commercial Officer, said in the statement. “This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale.”
—Reporting by Yantoultra Ngui; Editing by Chizu Nomiyama