Ascend Money Targets Unbanked 10 Million Thais as Digital Finance Firms Secure New Capital in Southeast Asia

Atome, a digital finance firm based in Singapore, has finalized a $345 million syndicated debt facility to support its expansion in Southeast Asia. This marks an increase from the $200 million facility secured in 2024. The capital will be used to expand its buy-now-pay-later services, lending products, and the Pay Later Anywhere card in markets including Singapore, Malaysia, and the Philippines. The funding comes from a mix of returning and new lenders, including HSBC, DBS, Sumitomo Mitsui Banking Corporation, and Fubon Bank. Andy Tan, Atome’s Chief Commercial Officer, stated the firm is better positioned to support a growing loan book, emphasizing healthy and profitable expansion.

Meanwhile, GlobalTech Horizons Asia (GTH-Asia) has completed its 2025 preparation phase and is entering 2026 ready to evaluate up to $100 million in structured capital opportunities across Southeast Asia. The platform emphasizes asset-linked and operating-backed structures, with a focus on disciplined execution and private mandate-based participation.

Why the Move Happened

Southeast Asia’s economic growth and digital adoption continue to attract capital from both traditional and alternative finance players. The region's expanding middle class, combined with underbanked populations, represents a strong market for digital lending and structured capital solutions.

For Atome and GTH-Asia, the current environment supports a shift toward more flexible, asset-backed financing models. Both firms are aligning with the broader trend of financial innovation that prioritizes access and inclusion.

How Markets Responded

Markets have reacted positively to the renewed focus on Southeast Asia by global finance firms. In particular, the expansion of digital finance platforms is seen as a potential growth engine for unbanked populations. This trend is also supported by the OECD, which notes that the region is increasingly integrating economically and leveraging digital reforms to improve public administration and investment climates.

GTH-Asia’s structured capital approach, though cautious, is expected to attract attention from institutional and private investors seeking high-quality, region-specific opportunities. The firm's emphasis on asset linkage and downside risk management is in line with global capital discipline.

What Analysts Are Watching

Analysts are monitoring how Atome and similar digital finance platforms scale their operations in Southeast Asia. Key concerns include credit risk, regulatory alignment, and the impact of rising interest rates on consumer borrowing.

In addition, the performance of GTH-Asia’s structured capital mandates will be closely followed. The firm's measured approach and transaction discipline are expected to influence how private capital is allocated in the region.

The OECD highlights the importance of aligning foreign investment with sustainability goals, a factor that may shape the future direction of capital deployment in Southeast Asia. As digital finance expands, so too does the need for regulatory oversight and responsible lending practices.