View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 14, 2021

Standard Chartered joins BNPL fray with $500m Atome investment

By Shalini mani

British banking major Standard Chartered has made a strategic investment of $500m in Atome Financial as part of a ten-year multi-product strategic partnership.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

Atome Financial operates buy now pay later (BNPL) platform Atome and digital lending platform Kredit Pintar in Indonesia.

The latest partnership, which aims to deliver personal banking solutions across Asia, will entail the roll-out of BNPL offerings across Indonesia, Malaysia, Singapore and Vietnam in the next few months.

It will later include the launch of digital lending products as well.

Standard Chartered said that its investment, its largest in a fintech to-date, will enable Atome Financial to ramp up its ecosystem of merchants and customer base in Asia.

Leveraging their respective strengths in finance and technology, Standard Chartered and Atome Financial expects to reach over 16 million customers by 2025.

They will also work together to tap the evolving digital lending market, which is expected to grow to $92bn by 2025 in South East Asia alone.

Standard Chartered Bank Consumer, Private and Business Banking CEO Judy Hsu said: “This partnership with Atome Financial gives us the opportunity to be part of the rapidly growing digital consumer finance ecosystem and provides convenient and relevant digital financial products to complement and enrich clients’ digital lives.”

The partnership comes on the heels of Atome’s more than $400m Series D financing round, which valued the company at over $2bn.

Commenting on the partnership, Atome Financial CEO Jefferson Chen said: “By providing consumers with easier, simpler, and more convenient access to a full suite of digital-first financial services, we can accelerate broader financial inclusion across both developed and emerging markets in Asia.

“At the same time, this partnership with Standard Chartered will allow us to expand our merchant network and help retailers increase their customer base and basket sizes, contributing to economic growth across the region.”

Last year, Standard Chartered introduced a platform allowing the public to track and trace payments much like a parcel delivery.

This April, Irish payment firm CurrencyFair and Australia’s Assembly Payments merged following investment from Standard Chartered.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International