Grab Holdings, Southeast Asia’s largest ride-hailing and food-delivery company, has agreed to buy an initial 60% stake in Singapore-based buy-now-pay-later platform Atome Financial for $1.49 billion in cash, with the remaining 40% to be acquired roughly two years later at a valuation between $2 billion and $4.5 billion depending on performance. The main objective is to expand Grab’s consumer lending and ecommerce ecosystem, folding Atome’s roughly $1 billion loan book—spanning BNPL, cash loans, and BNPL cards across Singapore, Malaysia, the Philippines, Indonesia, and Thailand—into Grab’s financial services segment to push its combined gross loan portfolio above $6 billion by 2028, up from a prior target of $3 billion. Grab also raised its 2028 Group Adjusted EBITDA target to $1.7 billion following the deal, its biggest acquisition to date. Key players include Grab, whose shares fell nearly 4% on the announcement, and Advance Intelligence Group, Atome’s parent, backed by SoftBank Vision Fund 2 and Warburg Pincus.
Grab to Buy Majority Stake in Atome for $1.49 Billion to Spur Lending Push
