Singapore-based Atome Financial acquires Indonesian financing company

Atome Financial, the parent company of Singapore’s buy now, pay later startup Atome, on Thursday announced that it has completed the acquisition of Indonesia’s PT Mega Finadana Finance.

Following the acquisition, Mega Finadana Finance has changed its name to PT Atome Finance Indonesia.

In its statement, the Singapore company said the deal will allow it to expand its consumer financing business in Indonesia through the acquisition of a financing licence. Financial details of the acquisition were not disclosed.

“The acquisition of this licence is testament to our commitment to growing our Indonesia business, and will allow us to better serve our partners and consumers through a range of tailored financing and lending options,” said Atome Financial Indonesia CEO Wawan Salum.

Wawan, a career banker, has previously worked at Citibank, ABN Amro, and HSBC. Before becoming CEO of Atome Financial Indonesia, he served as the head of consumer banking at Bank DBS Indonesia.

Founded in 2017, Atome Financial operates two main businesses – Atome and Kredit Pintar. Atome partners merchant retailers in Singapore, Indonesia, Malaysia, Hong Kong, Thailand, Vietnam and mainland China to offer “buy now pay later” options during checkout. Meanwhile, Kredit Pintar is a digital lending app licensed by Indonesia’s Financial Services Authority (OJK).

Since its establishment, Atome says it has partnered with several financial institutions globally to provide over $200 million in funding and credit facilities. It also claims to have served over 5 million users and provided over $1 billion of credit for both merchants and consumers.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.