According to VentureCap Insights, Atome, a Singapore-based supplier of purchase now, pay later services, has received US $45 million from its parent firm Advance Intelligence Group.
Chun Dong Chau, Dong Shou, and Jefferson Chen founded Atome in 2017, which enables clients to divide their invoices into three equal instalments with 0% interest.
Since its debut, Atome has collaborated with more than 5,000 online and offline merchants in nine regions in Greater China and Southeast Asia.
Atome Financial and Standard Chartered signed a 10-year collaboration agreement in October 2021 that calls for a $500 million investment from the world’s largest bank.
Atome and Carousell collaborated to launch BNPL services for the company’s Hong Kong-based merchants in November 2021. Similar partnerships exist between Atome and other major fintech players, including India’s Pine Labs, Singapore’s Fomo Pay, and Malaysia’s PayHalal.
After a $400 million US round that was co-led by SoftBank in September 2021, Advance Intelligence Group became a unicorn. Atome’s parent company was valued at $2 billion USD in the Series D investment.
