KUALA LUMPUR: Atome Financial, Southeast Asia’s leading digital financial technology platform and part of Advance Intelligence Group, is pleased to welcome 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. Together with the original tranche funded by EvolutionX Debt Capital in June 2024, the current facility size stands at a total of US$80 million.
BlackRock’s private credit team brings unparalleled expertise and a robust track record in private credit investments.
InnoVen Capital, a joint venture between Seviora (a wholly-owned subsidiary of Temasek Holdings) and UOB, is the leading venture debt provider supporting early and growth-stage companies across Southeast Asia, China, and India. Their involvement underscores the confidence in Atome Financial’s market leadership and growth trajectory.
In FY2024, Atome Financial – which comprises Atome Buy-Now-Pay-Later (“BNPL”) and Kredit Pintar, Indonesia’s leading digital lending platform – achieved strong business performance underpinned by:
-
+45% YoY revenue growth to US$280 million
-
+35% YoY growth in Gross Merchandise Value (GMV) to US$2.5 billion
-
Product portfolio profitability optimisation
-
Operational efficiency via Generative AI across customer service, collections and product sales
-
Achieved full-year profitability
This positive momentum is expected to continue with full force going into FY2025.
Celia Yan, Head of APAC Private Credit at BlackRock said: “Southeast Asia is one of the fastest growing regions in the world where we see attractive private credit investment opportunities. Atome Financial has established itself as a leading fintech player in Southeast Asia and we look forward to continuing to support their accelerated expansion.”
Yik Ley Chan, Southeast Asia Private Credit Lead at BlackRock said: “Atome Financial has strategically positioned the business over the past few years and achieved a strong track record. We are pleased to be part of this investment and look forward to long-term collaboration with Atome Financial as their business embarks on the next phase of growth.”
“We are thrilled to partner with Atome Financial, one of the leading players in the industry, and look forward to building a strong and successful relationship,” said Ben Cheah, Partner at Innoven Capital SEA. “This collaboration underscores our unwavering commitment to supporting high-growth companies in the region.”
Andy Tan, Chief Commercial Officer, Atome Financial, said: “We are incredibly excited and honoured to welcome BlackRock and InnoVen Capital as our new lending partners. Their participation is testament to our continued operational excellence, market leadership and remarkable business momentum, which is expected to accelerate in 2025. This facility will help propel the growth of our expanded product suite, strategic partnerships and profitable regional portfolio to better serve the diverse financial needs of consumers across key Southeast Asia markets including Singapore, Malaysia, the Philippines and Indonesia.”
