- Singapore BNPL platform Atome raised $31 million internally.
- The funding supports Atome’s expanding offerings like insurance.
- Parent firm injections now total $170 million as Atome hires in key regional markets, diversifying beyond basic BNPL services.
Atome secures $31M in funding
Singapore-based buy now, pay later (BNPL) platform Atome has raised $31 million internally from its parent company, Advance Intelligence Group. According to Atome, the capital results from share conversions between the two firms.
The funding comes as Atome moves to expand its suite of offerings beyond BNPL deferred payment plans. The company now provides additional financial products, including insurance, cards, and investments, to Southeast Asia and Greater China customers.
Atome’s expansion growth
Atome has raised about $170 million, the majority coming from Advance Intelligence Group. This latest capital infusion follows a separate $100 million debt facility renewal with HSBC in late 2022 to support Atome’s Philippine growth.
The fresh financing will likely help Atome continue regional expansion despite some recent downsizing efforts. This includes job cuts in Indonesia and exiting Vietnam. The firm is hiring for 70 roles in key Southeast Asian markets as it diversifies revenue streams beyond its core BNPL services.
