SuperAtom, an Indonesia-based provider of accessible financial services, has closed a $24m round featuring internet company Cheetah Mobile that was led by venture capital firm Gobi Partners’ Meranti ASEAN Growth Fund.
Founded in 2018 having been incubated by Cheetah Mobile, SuperAtom provides financial services to customers in Southeast Asia including a peer-to-peer consumer micro-loan platform branded UangMe.
The services are funded with lower-cost capital brought in from mature markets such as the US and Japan that is then adjusted using technologies such as data analytics and artificial intelligence to fit consumer profiles in SuperAtom’s target markets.
The company gained a licence to operate in Indonesia in 2018 and is also now officially sanctioned in the Philippines. It had not disclosed details of any earlier funding.
Cheetah expects to leverage its 60 million monthly mobile internet customers users in Southeast Asia to support SuperAtom’s operations, and will also provide global bandwidth and big data analytics to underpin the latter’s risk management.