A series C round headed by Malaysian investment group Nue3 Capital secured $22 million for Singapore-based fintech company SuperAtom. The transaction increased the startup’s estimated value to $370 million USD.
SuperAtom was founded in 2018, and its main offering is a platform for cash loans and buy-now, pay-later transactions for the Indonesian market called UangMe.
The firm claimed that UangMe presently has millions of customers and has disbursed hundreds of millions of dollars in loans without providing further details. It collaborated with McDonald’s Indonesia last month to make the BNPL function of UangMe available for payments.
SuperAtom intends to use the additional cash to maintain its growth in Indonesia, create more goods, and implement the UangMe business model in more Southeast Asian and Latin American nations. The company added that it plans to introduce wealthtech goods later on.
Scarlett Xiao, who was also a co-founder of Cheetah Mobile, founded the business. Through the Meranti ASEAN Growth Fund, SuperAtom secured US $24 million in a fundraising round headed by Gobi Partners in 2019.
