Atome Financial, a Singapore-based FinTech firm, has expanded and renewed its $100 million debt facility with HSBC Singapore to include the Philippines market and support new consumer financing products. The collaboration aligns with Atome’s mission to provide accessible digital-first financing solutions and highlights the role of innovative FinTech companies in driving Southeast Asia’s new economy growth.
Singapore-based FinTech firm, Atome Financial, has announced the expansion and renewal of its $100 million debt facility with HSBC Singapore. This renewed facility will now encompass the Philippines market and provide support for the launch of new consumer financing products.
Atome Financial, a digital consumer financing platform in Southeast Asia, focuses on promoting financial inclusivity through innovative solutions powered by artificial intelligence technology. With its Atome mobile app, the company offers flexible deferred payments, smart savings, and rewarding shopping experiences across the region. It also provides digital consumer loans in Indonesia through the Kredit Pintar mobile app.
Highlighting the significance of this expansion, Andy Tan, Head of Funding at Atome Financial, emphasized the strategic importance of the Philippines as a key market for providing accessible digital-first consumer financing products to the unbanked and underbanked segments.
HSBC Singapore’s Managing Director and Head of International Subsidiary Banking, Harish S Venkatesan, expressed the bank’s commitment to supporting Atome Financial’s expansion ambitions. HSBC serves as the structuring bank, lender, facility agent, and security agent for Atome Financial, offering a scalable and pan-regional financing solution to facilitate the company’s business growth.
The collaboration between Atome Financial and HSBC underscores the transformative power of innovative FinTech companies in driving the growth of Southeast Asia’s new economy. HSBC’s extensive global network, regional presence, and banking capabilities further contribute to the success of this partnership. – reference: Technode