Atome, a buy now pay later (BNPL) platform, has secured a significant credit facility of $345 million, a substantial increase from the $200 million secured in 2024. This new credit line is expected to fuel the expansion of Atome’s BNPL and lending services across Southeast Asia, particularly in Singapore, Malaysia, and the Philippines. The facility will also be utilized to grow its Pay Later Anywhere card in these markets.
The credit facility was structured and arranged by HSBC, which returns as a key player, and DBS, which joins as a mandated lead arranger and bookrunner. Other returning lenders include Sumitomo Mitsui Banking Corporation and Cathay United Bank, while Shanghai Pudong Development Bank is a new addition to the lending group.
According to Andy Tan, Atome’s Chief Commercial Officer, this new credit facility will enable the company to better support its rapidly growing loan book, while scaling transparent and flexible credit solutions for both merchants and consumers. Atome Financial, which comprises the BNPL business, Atome PayLater Anywhere Card, and Kredit Pintar, reported a revenue of $11.4 million in 2024, although this represents a decline from $18.6 million in 2023. Profit also decreased to $861,980 in 2024 from $19.7 million in 2023, according to financial filings.
The expansion of Atome’s services is expected to cater to the growing demand for BNPL options in Southeast Asia. The company’s Pay Later Anywhere card, in particular, is poised to benefit from the new credit facility, allowing more consumers in Singapore, Malaysia, and the Philippines to access flexible payment options. With this increased credit facility, Atome is well-positioned to drive growth and innovation in the region’s BNPL market. The company’s commitment to transparency and flexibility in its credit solutions is expected to resonate with consumers and merchants alike, further solidifying its position in the market.