Aditya Hadi Pratama · · 1 min readSingapore-based fintech firm secures $22m
SuperAtom, a Singapore-based fintech firm, has raised US$22 million in a series C round led by Malaysian investment fund Nue3 Capital. The deal pushed the startup’s valuation to US$370 million.
SuperAtom founder Scarlett Xiao / Photo credit: SuperAtom
Founded in 2018, SuperAtom’s main product is a cash loan and buy now, pay later platform called UangMe for the Indonesian market.
Without going into specifics, the company said that UangMe currently has millions of users and has disbursed hundreds of millions of dollars in loans. Last month, it partnered with the Indonesian arm of fast-food chain McDonald’s to enable payments using UangMe’s BNPL feature.
SuperAtom plans to use the fresh funding to continue its expansion in Indonesia, develop more products, and replicate UangMe’s model in other countries in Southeast Asia and Latin America. The firm also said it wants to launch wealthtech products in the future.
The company was established by Scarlett Xiao, who was also co-founder of Cheetah Mobile. In 2019, SuperAtom raised US$24 million in a funding round led by Gobi Partners through the Meranti ASEAN Growth Fund.
See also: Indonesia’s OJK launches more stringent regulations for online lenders
Editing by Miguel Cordon and Lorenzo Kyle Subido
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