- Atome Financial struck BNPL gold, reporting EBITDA profit.
- Atome’s BNPL volume soared, fueling 130% revenue jump.
- Overcoming hurdles, company staged remarkable comeback.
Atome’s BNPL business hits the jackpot
Atome Financial, the digital financial services of Southeast Asia, has cracked the code to profitability. In Q1 2024, the company reported an impressive EBITDA profit, fueled by the meteoric rise of its buy now, pay later (BNPL) arm, Atome.
Atome’s BNPL platform handled a staggering $1.5 billion in gross merchandise volume, skyrocketing 40% from 2022’s figures.
This transactional tsunami, combined with streamlined processes and expanded partnerships, propelled Atome’s revenue to soar by a jaw-dropping 130%.
Hurdles? what hurdles?
But Atome Financial’s success story doesn’t end there. The company’s ecommerce platforms, TikTok Shop and Lazada, alongside insurance heavyweight Chubb, contributed to the revenue and user growth bonanza.
Moreover, the introduction of innovative products like the Atome PayLater Anywhere Card and Atome Cash loans in key markets further cemented its position.
Despite obstacles like staff reductions in Indonesia and an exit from Vietnam, Atome Financial emerged victorious. After a challenging 2022 marked by a 9% revenue dip and EBIT losses, the company has staged a remarkable comeback, leaving competitors in its wake.
To read the original article: https://www.techinasia.com/atome-bnpl-experiences-notable-130-revenue-boost-entering-profitability
