Indonesian FinTech startup SuperAtom has bagged $24m in its funding round which will support
Gobi Partners led the round with participation also coming from the Meranti ASEAN Growth Fund with Cheetah Mobile.
SuperAtom aims to make financial services better accessible to the masses by integrating global resources, it said.
The company was incubated within Cheetah Mobile, a mobile internet company which offers a variety of online applications. SuperAtom is a lending application which helps individuals in Indonesia get easier access to credit,
SuperAtom founder Scarlett Xiao said, “Our mission is to provide hardworking people in this region with easy access to credit via a convenient platform. A market’s credit system reaches an inflection point once the GDP per capita reaches US$4,000. Southeast Asia is now fast approaching that turning point, where FinTech will start to take off.
“Countries like Indonesia will see GDP per capita grow from US$3,800 to US$7,000 in the next ten years, so the market potential is enormous. Beyond Indonesia, Philippines is also a very attractive market as it has a population of 100 million, and their GDP is growing at 6.2%. We are getting ready to enter this exciting market as we have just been awarded the financial license by the Philippines Securities and Exchange Commission.”
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