BNPL firm Atome secures $75m facility from Lending Ark

Lending Ark has invested over $1b in Asia.

Atome has secured a $75m asset-backed financing facility from Lending Ark.

Lending Ark is an investment firm that has invested $1b across Asia.

The buy now pay later (BNPL) provider will use the money to expand lending in the Philippines.

“Lending Ark also supports our business in Indonesia and this latest expansion underscores the strength of our long-standing partnership,” said Andy Tan, chief commercial officer, Atome.

CITIC Securities CLSA Capital Partners (HK) Limited advised Lending Ark Asia Secured Private Debt Fund.