Facility too help provide access to affordable and responsible personal finance solutions to support financial inclusion in Southeast Asia.
Southeast Asian digital financial services platform, Atome Financial has secured a syndicated credit facility of up to US$200 million, which is being led and arranged by Hongkong and Shanghai Banking Corporation Limited (HSBC).
The new facility is anchored by HSBC through its ASEAN Growth Fund and is also supported by DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch and Brunei’s Baiduri Bank. The 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.
“As a fast-growing startup with a rapidly growing and profitable business, we are deeply appreciative of this syndicated facility, which underscores the banking community’s trust and confidence in us,” said Andy Tan, Chief Commercial Officer at Atome Financial. “We look forward to HSBC, and our other partners, continuing to support our capital needs and launch of new and innovative personal finance products in key markets like Singapore, Malaysia and the Philippines.”
“We are pleased to deepen our support to lead this syndicated facility, along with other lenders. Through this support, Atome Financial will bring about greater financial inclusion by extending access to affordable and responsible personal finance solutions to more consumers from across Southeast Asia,” said Priya Kini, Head of Commercial Banking, HSBC Singapore.
This new syndicated facility of up to US$200 million expands from Atome Financial’s previous arrangement with HSBC, while adding new partners DBS, SMBC and Baiduri Bank.
Earlier in June, Atome Financial also announced it had secured a three-year term facility worth up to USD100 million from EvolutionX Debt Capital and other investors.
