According to Atome, the new facility will propel the growth of the company’s profitable regional credit portfolio and support the launch of new products such as savings, lending and insurance across its markets including Singapore, Malaysia, the Philippines and Indonesia.
Atome Financial announced, on June 25, that it has secured a three-year term loan facility from EvolutionX Debt Capital. Its business comprises Atome Buy-Now-Pay-Later (BNPL) and Kredit Pintar, a leading Indonesian leading digital lending platform. The company is part of Singapore-headquartered Advance Intelligence Group.
It is also working with a syndicate of investors to fully utilise the accordion feature of the facility, which can increase the total amount to up to US$100 million ($135.3 million). An accordion feature, or debt accordion, is also known as an incremental facility that allows the borrower to expand the maximum amount allowed on a line of credit or increase the revolving credit loan commitments.
