Atome Philippines, under Singapore-headquartered digital finance platform Atome, has closed a PHP5 billion ($81 million) wholesale facility with Asia United Bank, securing local currency capital primarily to support the continued expansion of its PayLater Anywhere Card, which has now been issued to over 3 million Filipinos.
In a statement last week, Atome said up to 80 percent of cardholders are first-time cardholders and 65 percent are women. Of whom, the majority utilize sing the cards for everyday essentials including groceries, food, household items, and telco and utility bill payments. Adoption has grown beyond Metro Manila to reach customers across Luzon, Visayas, and Mindanao.
Beyond the card, Atome’s product portfolio in the Philippines includes lending, savings, and insurance, broadening access to financial services for Filipinos underserved by traditional banking channels.
Christian Quiros, President and Country Manager of Atome Philippines, said the facility validates Atome’s market position and delivers competitive, PHP-denominated funding at meaningful scale, strengthening the company’s ability to grow while diversifying its funding mix with local capital.
Wilfredo Rodriguez Jr., Executive Vice President and IT and Operations Head at AUB, said the credit facility reflects the bank’s commitment to supporting responsible fintech platforms that strengthen the Philippine financial ecosystem.
Atome is part of Singapore-headquartered Advance Intelligence Group, backed by SoftBank Vision Fund 2, Warburg Pincus, Northstar, and EDBI.