Standard Chartered is investing $500mn in Asian FinTech Atome Financial.
In Brief:
AtomeFinancial is a digital lending unicorn.
The investment is part of a 10-year strategic partnership between the bank and FinTech.
AtomeFinancial’s platform, Atome, is currently the largest buy now, pay later player in Asia.
What does this mean?
This marks Standard Chartered’s largest strategic investment in a FinTech. Atome Financial has also raised funding from the likes of SoftBank Vision Fund 2 and Warburg Pincus. The product StanChart is really interested in is the buy now pay later platform Atome, which it intends to help roll out into Malaysia, Singapore, Indonesia and Vietnam.
