Grab is deepening its push into financial services with a $1.49-billion deal to acquire a controlling stake in Atome Financial, the Singapore-based buy now, pay later (BNPL) fintech that operates in the Philippines and four other Southeast Asian markets.
On Tuesday, Grab said it would acquire a 60-percent equity interest in Atome Financial all in cash. Of the amount, $260 million will be injected as fresh growth capital.
This would bring Atome’s BNPL, consumer cash loans, cards and digital lending businesses into Grab’s growing financial services portfolio. This already spans payments, digital banking, lending and insurance.
Atome operates in the Philippines, Singapore, Malaysia, Indonesia and Thailand, serving 25 million cumulative transacted users.
Although both companies operate across the same five markets, Grab said they have minimal product overlap.
The acquisition is expected to be completed by the third quarter of 2027, subject to regulatory approvals and other customary closing conditions. Atome’s management team will remain at the helm of the business.
‘The proposed transaction accelerates the growth and profitability of our financial services segment by deepening our consumer lending capabilities and unlocking opportunities for us to serve Atome’s large merchant network,’ said Alex Hungate, president and COO of Grab.