October 22, 2021Asia
Standard Chartered links up with Singapore startup in Asia fintech push
As part of the 10-year partnership, Standard Chartered will invest an undisclosed amount in Atome Financial, which operates consumer credit platforms across Asia, the bank said in a statement Wednesday.
Standard Chartered said the investment would be its largest one to date in a fintech company.
The bank will also provide $500m financing to aid product innovation and user growth at Atome Financial.
Standard Chartered aims to reach over 16 million customers by 2025 through the partnership, as the Asia-focused lender seeks to secure a share of the rapidly-growing digital lending market.
Atome Financial is a business unit under Singapore tech start-up Advance Intelligence Group, which recently raised over $400m in its latest financing round led by SoftBank Vision Fund 2 and Warburg Pincus.
