Grab has officially confirmed that it will acquire a majority stake in Atome Financial, following initial reports that the company was in talks to acquire the Singapore-based Buy Now, Pay Later (BNPL) provider. Under the agreement, the company will acquire an initial 60% stake in Atome for US$1.49 billion (~RM6.3 billion), with the transaction expected to close by the third quarter of 2027, subject to regulatory approvals and other conditions.
To recap, Atome Financial is currently owned by Advance Intelligence Group and operates across several Southeast Asian countries. Its services include BNPL, consumer cash loans, BNPL cards and other digital lending products.
The acquisition is expected to accelerate Grab’s expansion of its financial services business, particularly its consumer lending and BNPL offerings. The company already offers BNPL services in Malaysia and Singapore, while Atome has an established presence in the Philippines, Indonesia and Thailand.
Grab says the acquisition will allow it to combine Atome’s lending infrastructure with its existing financial services business. It will also give the BNPL platform access to its customer base and ecosystem across Southeast Asia.
The company adds that it will eventually acquire the remaining 40% of Atome under a separate performance-linked arrangement. This is expected to take place around two years after the initial transaction closes, with Atome’s valuation for the second phase ranging from US$2 billion to US$4.5 billion depending on its financial performance.
The deal confirms Grab’s plans to expand its financial services business through the acquisition of an established lending platform. For users in Malaysia, the transaction will also bring Atome’s BNPL business under the same group that operates Grab’s existing financial services products.
(Source: Grab [official website])
