Atome Financial, a Singapore-based digital financial technology platform and part of Advance Intelligence Group, has secured funding from BlackRock Private Credit, InnoVen Capital, growing its credit facility to $80 million.

Atome Financial said in a statement on Wednesday that it has secured 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 $80 million.

According to the statement, BlackRock’s private credit team brings unparalleled expertise and a robust track record in private credit investments.

Meanwhile, 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, said the statement.

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 percent year on year revenue growth to $280 million and 35 percent year on year growth in gross merchandise value (GMV) to $2.5 billion.

This positive momentum is expected to continue with full force going into FY2025, the firm noted.

According to Andy Tan, Chief Commercial Officer of Atome Financial, this facility will help propel the growth of the firm’s 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.

“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,” he added.

Celia Yan, Head of APAC Private Credit at BlackRock, said Southeast Asia is one of the fastest growing regions in the world where she sees 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,” she added.

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,” he added.

Ben Cheah, Partner at Innoven Capital SEA, said the firm is thrilled to partner with Atome Financial, one of the leading players in the industry, and look forward to building a strong and successful relationship.

“This collaboration underscores our unwavering commitment to supporting high-growth companies in the region,” he added.

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