Atome Philippines, the local arm of Singapore-based digital finance platform Atome, has secured a 5-billion-peso ($81 million) wholesale funding facility from Asia United Bank (AUB), according to an announcement.
The peso-denominated facility will primarily finance the growth of Atome’s PayLater Anywhere Card, which has been issued to more than 3 million users in the country, the company said on Monday.
The transaction, Atome Philippines said, adds another local currency funding source for the company as fintech lenders increasingly seek domestic funding to reduce foreign exchange risk and support loan growth.
Atome said around 80% of its cardholders are first-time credit card users, while about 65% are women.
The company said most customers use the card to pay for everyday purchases such as groceries, food, household goods, telecommunications services, and utility bills.
The product has also expanded beyond Metro Manila into provinces across the country.
“The closing of AUB’s 5-billion-peso facility validates Atome’s market position and delivers competitive, PHP-denominated funding at meaningful scale,” Atome Philippines president and country manager Christian Quiros said.
For Asia United Bank, the deal underscores its push to finance fintech companies focused on financial inclusion.
“This partnership advances financial inclusion while maintaining rigorous credit standards,” said Ernesto Uy, executive vice president and Account Management Head, AUB.
Beyond its flagship BNPL offering, Atome also provides personal lending, savings, and insurance products in the Philippines, targeting consumers underserved by traditional banks.
Atome operates across Southeast Asia under Advance Intelligence Group, which counts SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI among its investors.
In May, Atome Financial secured about $149 million in fresh capital injection from its parent, Advance Intelligence Group, regulatory filings showed.
Advance Intelligence subscribed to about 38 million ordinary shares in Atome Financial, the financial services arm behind buy-now-pay-later (BNPL) platform Atome, at $3.90 apiece, according to filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
