On June 9, 2025, Singapore-based Atome, a part of the Advance Intelligence Group, secured an asset-backed financing facility from Lending Ark to bolster its lending operations in the Philippines. This move is designed to improve access to responsible credit for Filipino consumers, meeting a surging demand for mobile-first financial solutions in the archipelago.
This strategic financing, however, is more than just a corporate milestone. It is a clear indicator of the potent synergy between fintech innovation and the vast, untapped potential of the Philippine market.
The Philippines presents a compelling case for the growth of alternative financial services. The nation is in the midst of a digital commerce boom, with the e-commerce market projected to grow from $17 billion in 2021 to $24 billion by 2025. Yet, a significant portion of the population remains underbanked, lacking access to the traditional credit systems that would allow them to participate fully in this growing digital economy.
This is where services like BNPL are finding fertile ground. The BNPL market in the Philippines is forecast to expand by 14.6% annually, reaching a value of US$3.21 billion in 2025. The adoption rate is stunning, with 28.4 million Filipinos utilizing BNPL services by the end of 2024 – a 40% jump in just one year. In fact, the Philippines now has the second-highest BNPL penetration rate in Southeast Asia, with over 30% of digital commerce users choosing these payment options.
These figures highlight a fundamental shift in consumer behavior, particularly among Gen Z and Millennial demographics. For a generation native to mobile technology, the appeal of accessible, easily managed digital credit for purchasing essentials like gadgets and electronics is reshaping financial habits for the long term.
Atome's own evolution points to the broader trend. The company has expanded beyond its initial BNPL offerings to include insurance, savings, cards, and other lending services. This diversification reflects a maturing market where fintechs are becoming all-in-one financial platforms, offering a suite of services to previously excluded populations.
The choice of an asset-backed financing facility is also telling. This funding model is gaining traction in Asia as it allows fast-growing companies like Atome to scale their borrowing in direct proportion to their asset growth – a crucial advantage in dynamic markets. It demonstrates how specialized financial institutions are crafting solutions tailored to the unique needs of fintechs in emerging economies, fueling a cycle of rapid and sustainable growth.
Lending Ark's Managing Director, Carol Lee Park, noted the firm's excitement in supporting Atome in a "high-growth market with increasing demand for accessible, affordable credit and mobile-first financial solutions." This partnership, which also extends to Indonesia, underscores a long-standing relationship built on confidence in Atome's ability to manage risk while delivering inclusive credit at scale.
The infusion of capital into the Philippine fintech scene, exemplified by Atome's recent funding, is a powerful catalyst for economic empowerment. It signals growing confidence from institutional partners – which for Atome include major players like Standard Chartered, HSBC, and BlackRock – in the viability of new financial models.
As these platforms deepen their reach, the focus on "risk-managed, responsible and sustainable credit products" will be paramount. The goal is not just to provide credit, but to empower consumers with tools to manage their finances responsibly. By bridging the gap left by traditional banking, fintech is not merely offering an alternative; it is building a more inclusive and dynamic financial ecosystem for the future of the Philippines.