Atome Secures $75 Million Asset-Backed Facility to Accelerate Philippine Expansion
Atome announced on June 9 that it has secured a U.S. $ 75 million asset-backed financing facility from Lending Ark. This will enable the Southeast Asian buy now pay later (BNPL) provider to continue its expansion in the Philippines.
Lending Ark is a pioneer in asset-backed investments across Asia, having invested a total of U.S. $1 billion across the Philippines, Hong Kong, South Korea, Australia/New Zealand, Indonesia, and Vietnam. The Atome financing is from Lending Ark Asia Secured Private Debt Fun,d advised by CITIC Securities CLSA Capital Partners (HK) Limited.
"Atome has cemented its position as a leading fintech player in Southeast Asia thanks to its unique strengths in credit risk management, responsible lending, and consumer empowerment. We’re excited to support Atome in the Philippines, a high-growth market with increasing demand for accessible, affordable credit and mobile-first financial solutions," said Carol Lee Park, Managing Director of Lending Ark.
"The Philippines is a key growth market for Atome. This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale. Lending Ark also supports our business in Indonesia, and this latest expansion underscores the strength of our long-standing partnership. We’re grateful for their trust as we deepen our reach and empower more Filipinos with the tools to manage their finances responsibly," said Andy Tan, Chief Commercial Officer, Atome.
In February 2025, Atome Financial also welcomed a private credit fund managed by BlackRock, and InnoVen Capital as new consortium members in the accordion tranche of its previously announced three-year senior secured term loan facility. This stands at a total of U.S. $80 million, combined with the original tranche funded by EvolutionX Debt Capital in June 2024.
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Atome's 2024 Performance
Atome Financial, which is part of Advance Intelligence Group, was launched in Singapore in December 2019 and arrived on our shores in late 2021. Its main product, Atome, comes in both a physical card and a virtual card, which users can use to pay with via Mastercard. It also allows payment via the app through QRPh code. Its selling point is that it offers flexible installment options, allowing users to split the bill into three or six equal monthly payments with no interest (but with some fees).
In 2024, Atome Financial achieved full-year profitability with a 45 percent YoY revenue growth to U.S. $280 million and 35 percent growth in GMV to U.S. $2.5 billion. This is expected to continue in 2025.
Demand for Buy Now Pay Later in the Philippines
The product meets the growing demand for BNPL in the Philippines, where the market is expected to grow by 14.6 percent on an annual basis to reach U.S. $3.21 billion in 2025. This trend is seen from its growth pattern from 2021 to 2024, which achieved a compound annual growth rate (CAGR) of 24.2 percent. Forecast expects a CAGR of 10.8 percent from 2025 to 2030, and by the end of 2030, the BNPL sector is projected to grow by U.S. $5.37 billion from its 2024 value of U.S. $2.80 billion.
BNPL services have become popular not only for their flexible payment options, but also for ease of application (unlike traditional credit cards that require approval) amid widespread e-commerce adoption.
