Advance Intelligence Group has made a fresh US$149 million capital injection into its subsidiary Atome Financial, months after the consumer finance business secured an upsized debt facility.
The capital was injected through a share subscription, DealStreetAsia reported, citing regulatory filings with Singapore’s Accounting and Corporate Regulatory Authority.
Advance Intelligence subscribed to about 38 million ordinary shares in Atome Financial at US$3.90 per share, according to the filings.
Atome Financial operates the group’s consumer finance business, including the buy now, pay later (BNPL) platform Atome.
The capital injection follows Atome’s renewed and upsized US$345 million syndicated debt facility announced in January.
The facility was larger than Atome’s US$200 million debt package from 2024.
Atome Financial reported its first full-year profit in 2024, with operating income rising 63% year-on-year to US$236 million. Gross merchandise volume exceeded US$2 billion, up 50% from 2023.
Advance Intelligence Group’s wider business spans consumer finance, digital lending, credit scoring, fraud detection and enterprise AI solutions.
Its investors include SoftBank Vision Fund 2, Warburg Pincus, Northstar Group and EDBI.
DealStreetAsia reported in October that Advance Intelligence was considering a new equity fundraising of more than US$200 million at a possible valuation of about US$3 billion.
In 2021, Advance Intelligence raised more than US$400 million from investors including SoftBank Vision Fund 2 and Warburg Pincus, valuing the group at more than US$2 billion.
It later secured US$80 million in 2023 from a consortium led by Warburg Pincus and Northstar Group.
Featured image: Edited by Fintech News Singapore, based on image by wahyu_t via Magnific