Atome Monetary, a digital monetary know-how platform in Southeast Asia and a part of Advance Intelligence Group, has secured a three-year debt facility from EvolutionX Debt Capital.
This marks EvolutionX Debt Capital’s first fintech funding in Southeast Asia and contains an ‘accordion characteristic,’ permitting the ability to doubtlessly improve as much as US$100 million primarily based on firm wants and extra investor participation.
This characteristic offers flexibility, enabling Atome Monetary to scale the ability’s measurement as its growth and monetary necessities evolve.
The financing is meant to assist Atome Monetary’s growth throughout Singapore, Malaysia, the Philippines, and Indonesia.
It goals to strengthen the corporate’s worthwhile credit score portfolio and facilitate the introduction of latest monetary merchandise, together with financial savings, lending providers, insurance coverage choices, and the Atome Card (Pay Later Anyplace).
Beneath the management of Atome Monetary, which incorporates Atome Purchase-Now-Pay-Later and Indonesia’s Kredit Pintar, the platform has reportedly proven sturdy efficiency.
In FY2023, the corporate practically doubled its working earnings to US$170 million, pushed by a 40% improve in Gross Merchandise Quantity (GMV) to US$1.5 billion and a 130% year-on-year income progress.
Atome Monetary had achieved profitability within the first quarter of FY2024, supported by enhanced operational efficiencies, and expanded regional partnerships with main e-commerce platforms like TikTok Store and Lazada.
The corporate is backed by SoftBank Imaginative and prescient Fund 2, Warburg Pincus, Northstar and Singapore-based world investor EDBI.
Rahul Shah
Rahul Shah, Companion at EvolutionX, mentioned,
“We have now been impressed by Atome Monetary’s administration crew and assist from long-term traders and companions, underpinned by sturdy give attention to danger administration and operational effectivity, which has resulted in sustainable and worthwhile enterprise progress.
The launch of revolutionary and fit-for-market options just like the Atome Card (PayLater Anyplace) and lending merchandise demonstrates their potential to develop choices whereas leveraging native market experience.”
Jefferson Chen
Jefferson Chen, Group co-founder and CEO of Advance Intelligence Group, mentioned,
“With Atome Monetary having reached profitability earlier this yr, we’re excited to associate EvolutionX for our subsequent stage of progress.
This new facility recognises Atome Monetary’s operational excellence and platform worth as we glance to speed up the momentum of our digital monetary providers enterprise, the growth of regional strategic partnerships like TikTok Store and Lazada in addition to the launch of the brand new Atome Card, financial savings and lending merchandise throughout key Southeast Asian markets.”
Featured picture credit score: Edited from Freepik
