Atome raises $75m to expand services in Philippines

Atome, a buy now pay later (BNPL) provider based in Southeast Asia, has secured a US$75 million asset-backed financing facility from Lending Ark, as announced on June 9, 2025.

The financing will support Atome’s expansion efforts in the Philippines.

Lending Ark, advised by CITIC Securities CLSA Capital Partners, has invested in various Asian markets, including the Philippines, Indonesia, and Vietnam.

This financing will enhance Atome’s capacity to offer credit products to consumers in the Philippines.

Atome’s partnership with Lending Ark also extends to other markets, such as Indonesia, where they collaborate on similar initiatives.

🔗 Source: Atome

🧠 Food for thought

1️⃣ Philippines represents a high-growth BNPL market with rapidly accelerating adoption

Atome’s financing comes at a pivotal moment in the Philippines’ BNPL evolution, with the market projected to grow by 14.6% annually to reach US$3.21 billion in 2025 from its current value of US$2.3 billion 1.

The country has experienced remarkable consumer adoption, with 28.4 million Filipinos using BNPL services by the end of 2024—a 40% increase from just one year earlier 2.

The Philippines now ranks second in BNPL penetration among Southeast Asian nations, with 30.36% of digital commerce users opting for these flexible payment options, signaling strong market momentum 2.

This growth explains why Atome is securing significant funding specifically for Philippine expansion, as the company positions itself to capture market share in a country where e-commerce generated $17 billion in 2021 and is expected to reach $24 billion by 2025 3.

The significant uptake is largely driven by the country’s large underbanked population seeking alternatives to traditional credit systems, exactly the demographic Atome has historically targeted since its earlier iterations in the market 3.

2️⃣ Asset-backed financing emerges as strategic vehicle for fintech expansion in Asia

Atome’s choice of an asset-backed facility reflects a broader trend in Asian financial markets, where asset-based lending is gaining significant traction among investors, with 57.5% of surveyed investors showing interest in these structures 4.

The scalability of asset-backed lending is particularly advantageous for rapidly growing fintechs like Atome, as it allows them to increase borrowing capacity in parallel with their expanding asset base—crucial for operations in high-growth markets 4.