Atome Financial finalises acquisition of financing company amid rapid business expansion in Indonesia
JAKARTA, Indonesia, March 31, 2021 /PRNewswire/ — Atome Financial has completed its acquisition of local financing company PT Mega Finadana Finance in Indonesia. The acquisition will allow Atome Financial to expand its business in Indonesia through especially consumer financing. Following the acquisition, PT Mega Finadana Finance changed its name to PT Atome Finance Indonesia.
"The acquisition of this licence is testament to our commitment to growing our Indonesia business, and will allow us to better serve our partners and consumers through a range of tailored financing and lending options," said Atome Financial Indonesia CEO Wawan Salum, who explained the strategy to get a licence as a financing company will facilitate expansion across business lines.
"As a group, Atome Financial has emerged from COVID-19 pandemic strongly and is now in a unique position to rapidly expand our services in Indonesia and accelerate financial inclusion among underbanked and underserved segments of the population. Since 2017, Atome Financial has partnered some of the world’s most respected financial institutions who provide over $200 million in funding and credit facilities to propel financial inclusion. Cumulatively, we have served over 5 million users and provided over USD 1 billion of credit to empower merchants and consumers. This licence will not only accelerate our rapid business expansion, but also contributes to a stronger and healthier national lending and financing ecosystem in Indonesia," he added.
Atome Financial consists of two main business units, Atome and Kredit Pintar. Atome partners some of Indonesia’s largest retailers and e–commerce platforms such as MAP Group (which includes Sephora, Zara, Mango, Pull&Bear, Marks & Spencer, Food Hall and more), JD.ID and iStyle to offer installment payment options with 0% interest over 3 or 6 months across fashion, beauty, lifestyle and health and fitness categories during the checkout transaction. Meanwhile, Kredit Pintar is among Indonesia’s top digital lending apps licensed by OJK, with over 10 million mobile app downloads and a 4.8-star rating on Google Play Store. It was also recently awarded Top Brand Award 2021 by Frontier Group and Majalah Marketing.
Atome Financial’s media kit can be found here.
About Atome Financial
Founded in 2017, Atome Financial is a leading tech company working to break down barriers of traditional banking and promote financial inclusivity through artificial intelligence technology. It consists of two main business lines: Atome, which partners merchant retailers to offer "buy now pay later" options during checkout and is available in Singapore, Indonesia, Malaysia, Hong Kong, Thailand, Vietnam and mainland China, and Kredit Pintar, one of Indonesia’s top digital lending apps licensed by OJK. In 2019, Atome Financial was named the most trusted technology company in digital payment by the Indonesia Quality Award committee. Atome Financial is headquartered in Singapore with additional offices in Indonesia and China.
Michael de Waal Montgomery
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