Atome Expands Debt Facility with HSBC Singapore to Include Philippinesby Fintech News Philippines August 16, 2023
Atome Financial and HSBC Singapore have renewed and expanded their debt facility agreement. The new agreement includes the Philippines market and new consumer financing products. This is an expansion of the original agreement in August 2022.
Through this agreement, HSBC provides flexible, scaleable and pan-regional financing solution to support Atome Financial’s business expansion.
Atome Financial is an umbrella business unit made up of two brands; buy now pay later platform Atome as well as digital lending platform Kredit Pintar in Indonesia.
The fintech company claims to have over 40 million app downloads and disbursed more than US$4 billion in loans.
Andy Tan, Head of Funding, Atome Financial said,
“We’re excited to have the renewed support of HSBC, especially as it now includes the Philippines, a key strategic market for us in providing unbanked and underbanked consumers with easier, simpler, and more affordable access to digital-first consumer financing products.”
Harish S Venkatesan, Managing Director and Head of International Subsidiary Banking, HSBC Singapore said,
“It pleases us to see innovative companies like Atome Financial lead the charge in driving Southeast Asia’s new economy growth. We are glad to play a role in supporting their ambition and remain committed to tap on HSBC’s global network, strong regional presence as well as suite of banking capabilities to support their expansion in the region.”