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Atome secures debt facility up to USD 100 million to support growth and expand product offerings
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Jun 25, 2024
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Jun 25, 2024

Atome secures debt facility up to USD 100 million to support growth and expand product offerings

Funding

  • Singapore-based Atome, a flexible embedded payment solution provider, has secured a three-year loan facility from EvolutionX Debt Capital and is concurrently working with a group of investors to secure additional funding of up to USD 100 million using the loan's incremental feature. Atome's total funding now stands at USD 876 million.

  • The funding will support the expansion of Atome's credit portfolio and the launch of new products such as savings, insurance, lending, and the Atome Card in markets including Singapore, Malaysia, the Philippines, and Indonesia.

  • Analyst QuickTake: Today’s news on securing an incremental debt facility to support product expansion builds on Atome’s ongoing diversification efforts as it extends its product offerings to provide services, such as insurance, flexible payment cards, and investments after securing USD 31 million through an internal share conversion this January.

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