Grab to acquire majority stake in Atome Financial for US$1.5 billion

Grab has announced plans to acquire a majority stake in Singapore-based buy now, pay later (BNPL) provider Atome Financial. The initial transaction involves a US$1.5 billion investment for a 60 per cent stake, with an agreement to acquire the remaining 40 per cent in approximately two years. The total valuation for Atome is expected to range between US$2 billion and US$4.5 billion, depending on performance-linked metrics including revenue and EBITDA.

The acquisition aims to integrate Atome’s BNPL loans, consumer cash loans, and digital lending services with Grab’s existing financial services ecosystem. Atome currently operates across Singapore, Malaysia, the Philippines, Indonesia, and Thailand, serving 25 million cumulative transacted users. Grab executives stated the move is intended to expand financial access to unbanked and underbanked populations in Southeast Asia by utilizing AI-driven underwriting.

Grab has raised its 2028 financial targets following the deal, projecting an adjusted EBITDA of US$1.7 billion and annual revenue growth exceeding 30 per cent between 2025 and 2028. The company expects its combined financial services segment to generate an adjusted EBITDA of US$500 million by 2028, supported by a gross loan portfolio of over US$6 billion.