Singapore FinTech firm Atome Financial has on Wednesday announced it has renewed and expanded its $100 million debt facility with HSBC Singapore to include the Philippines market, as well as support new consumer financing products.

“We’re excited to have the renewed support of HSBC, especially as it now includes the Philippines, a key strategic market for us in providing unbanked and underbanked consumers with easier, simpler, and more affordable access to digital-first consumer financing products,” Atome Financial Funding Head Andy Tan said in a statement.

Atome Financial is Southeast Asia’s digital consumer financing platform with extensive experience in consumer finance and promoting financial inclusivity through artificial intelligence technology.

The firm provides consumers across the region flexible deferred payments, smart savings and rewarding shopping experiences through the Atome mobile app; as well digital consumer loans in Indonesia through the Kredit Pintar mobile app.

Cumulatively, Atome Financial has over 40 million app downloads and disbursed more than $4 billion in loans.

“It pleases us to see innovative companies like Atome Financial lead the charge in driving Southeast Asia’s new economy growth,

“We are glad to play a role in supporting their ambition and remain committed to tap on HSBC’s global network, strong regional presence as well as suite of banking capabilities to support their expansion in the region,” said Harish S Venkatesan, Managing Director and Head of International Subsidiary Banking, HSBC Singapore.

HSBC is the structuring bank, lender, facility agent and security agent in providing a flexible, scaleable and pan-regional financing solution to support Atome Financial’s business expansion.

The bank serves customers worldwide from offices in 62 countries and territories, with assets of $2.99 billion as of March 31, 2023.

Atome partners TikTok Shop to drive e-commerce growth in Malaysia