Atome Financial has secured a three-year term loan facility from EvolutionX Debt Capital and is concurrently working with others investors to fully utilize the accordion feature of the facility, which can increase the total amount to up to US$100 million.
Atome Financial secures US$100 debt facility from EvolutionX to drive profitable expansion in Southeast AsiaThe new facility will drive Atome’s portfolio expansion and product launches
In a statement, the leading digital financial technology platform said the new facility will drive the expansion of the company’s profitable regional credit portfolio and support the launch of new products such as savings, lending, insurance, and Atome Card in markets including Singapore, Malaysia, the Philippines, and Indonesia.
The firm said this positive momentum carried into FY2024, with Atome Financial announcing in April that it had turned profitable in the first quarter of 2024. Rahul Shah, partner at EvolutionX, said: “We have been impressed by Atome Financial’s management team and support from long-term investors and partners, underpinned by strong focus on risk management and operational efficiency, which has resulted in sustainable and profitable business growth.”
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