Atome, a popular fintech company in Southeast Asia that offers “buy now, pay later” services, has secured $75 million from Lending Ark to expand its operations in the Philippines.
Atome is part of Singapore-based Advance Intelligence Group, which is backed by major investors such as SoftBank Vision Fund 2 and Warburg Pincus.
According to Andy Tan, Chief Commercial Officer of Atome, the Philippines is an important market for their growth. The new investment demonstrates confidence in Atome's ability to deliver affordable credit with sound risk management.
Lending Ark is known for providing secured private credit in Asia Pacific, so this partnership is expected to strengthen Atome's services in the country.
