Atome to Get $75 Million From Lending Ark as Credit Demand Grows

Atome, Southeast Asia’s biggest buy now, pay later provider, secured a $75 million asset-backed financing facility from Lending Ark, as demand for affordable credit grows in the Philippines.

The financing will help Atome to broaden its credit offerings and expand financial access in the Philippines, according to a statement on Monday. Atome is owned by Singapore-headquartered Advance Intelligence Group, which is backed by investors including SoftBank Vision Fund 2, Warburg Pincus and Northstar.

As traditional credit markets in the US and Europe falter, private credit investors are turning their attention to emerging markets such as the ...