Hey, Manila! Leading buy now pay later (BNPL) provider Atome has secured a $75M asset-backed financing facility to accelerate financial inclusion in the Philippines. 

• They’ll use the $$$ to improve access to risk-managed, responsible and sustainable credit products for Filipino consumers.
• Atome is part of Singapore-headquartered Advance Intelligence Group.

Investor check. The strategic financing was from Lending Ark Asia Secured Private Debt Fund, advised by CITIC Securities CLSA Capital Partners (HK) Limited. 

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💰 The ABCs of Atome

Beyond flexible credit and installment plans, Atome now also offers insurance, savings, cards, and lending services. 

• The Atome PayLater Anywhere card allows users to pay the full amount of a purchase within 45 days with 0% interest. Or, users can pay via installment over several months for a fee of up to 3%. 

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🪪 BNPL in the Philippines

The BNPL payment market in the Philippines is expected to grow by 14.6% on an annual basis to reach $3.21 billion in 2025. The sector is also projected to expand to $5.37B by 2030. 

• Some local players in the BNPL space include BillEase (Series C), Tonik’s TendoPay, and Cashalo.