Ride-hailing giant Grab agreed to acquire a sixty percent controlling stake in Singapore-based buy now, pay later provider Atome Financial for one billion four hundred ninety million dollars in cash. The transaction aims to expand Grab’s consumer lending business and accelerate profitability across its financial services segment by twenty twenty-eight.
Technology Acquisition
Rather than building every consumer credit product from scratch, the company is absorbing an established operator with an existing footprint across five major markets. Technology Acquisition will strengthen ride-hailing group’s financial business and lift 2028 targets. Kentaro Takeda reported September 15, 2026, with updates on September 15, 2026, noting that ride-hailing group Grab said on Tuesday that it has agreed to acquire a 60% stake in Singapore-based buy now, pay later (BNPL) financial service provider Atome Financial for $1.49 billion, as it seeks to expand its consumer lending business in Southeast Asia. Grab Holdings Ltd., headquartered in Singapore, is buying Singapore-based buy-now, pay-later platform Atome Financial as it looks to expand in consumer lending, according to announcements made on Wednesday, May 18, 2022. Grab Holdings Ltd., was expected to report results on May 19, as noted by photographer Bryan van der Beek via Bloomberg and Getty Images. Structured Two-Stage Acquisition and Capital Protection
Structured Two-Stage Acquisition and Capital Protection
The deal is structured in two distinct phases to protect the buyer’s balance sheet. Grab will acquire its initial sixty percent controlling stake for one billion four hundred ninety million dollars in cash, with plans to purchase the remaining forty percent roughly two years after the first transaction closes. That staged approach was deliberately chosen to minimize exposure. Chief Financial Officer Peter Oey explained to CNBC’s Squawk Box Asia on Wednesday that the two-stage structure was partly designed to de-risk the transaction from a capital allocation perspective. Following the announcement, Grab shares closed 3.64% lower on Nasdaq. Combining Ecosystems Across Five Southeast Asian Markets
Combining Ecosystems Across Five Southeast Asian Markets
Grab, Atome Financial, Neuroncredit Pte. Ltd., the digital financial services platform of Advance Intelligence Group Limited (AIGL), and certain other parties entered into definitive agreements on September 15, 2026, in Singapore for Grab to acquire a controlling 60% equity interest in Atome Financial in cash for $1.49 billion. The proposed transaction, if completed, would combine Atome Financial’s business – spanning Buy Now, Pay Later (BNPL) loans, consumer cash loans, BNPL cards and digital lending – with Grab’s financial services business, accelerating its growth and strengthening the flywheel effect of Grab’s ecosystem that also includes mobility and deliveries. Atome Financial currently operates in Singapore, Malaysia, the Philippines, Indonesia, and Thailand, and serves 25 million cumulative transacted users. Grab’s suite of financial services includes payments, digital banks, partner lending, insurance, and consumer lending. Through Atome Financial, Grab would be able to access a scaled and proven platform for consumer lending, while Atome Financial gains new distribution opportunities across the region through Grab’s ecosystem. “Atome Financial’s leading use of AI to underwrite digital lending to millions of users across the region, while managing risk effectively, will help to scale and strengthen Grab’s whole ecosystem. 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. In 2025, 68 percent of driver-partner borrowers accessed formal credit for the first time through Grab, with half noting they did so to avoid predatory lenders. By coming together, we can deliver on our common vision of using technology to responsibly extend financial access to the unbanked and underbanked in the region, to drive Southeast Asia forward,” said Alex Hungate, President and Chief Operating Officer, Grab. Underwriting Technology and Future Financial Targets
Underwriting Technology and Future Financial Targets
Access to credit remains an important driver of economic opportunity in Southeast Asia, where more than 70% of adults are unbanked or underbanked. Both companies operate across Singapore, Malaysia, the Philippines, Indonesia, and Thailand, with minimal product overlap. Over the years, Grab has scaled its lending footprint to driver- and merchant-partners, while Atome Financial has focused on providing flexible payment options and consumer lending to its users, granting Grab access to nearly 54 million Monthly Transacting Users and Atome Financial’s network of over 30,000 brands. “We founded Atome Financial eight years ago on a simple conviction: everyone deserves access to responsible credit and financial services, not just those with a conventional banking history. Over eight years, we’ve built a sustainable and reliable financial services platform serving millions of customers across five markets. Powered by AI and data, every transaction makes our underwriting smarter and our products more personalised. With Grab’s ecosystem, and our proven AI-powered lending infrastructure, we can extend that to millions more across Southeast Asia who’ve been left out — and together, do more to close the financial inclusion gap than either of us could alone,” said Jefferson Chen, Chairman and CEO of Advance Intelligence Group Limited, and CEO of Atome Financial. Atome Financial works with brands across travel, beauty, and e-commerce, giving Grab access to areas where it has a more limited presence, Peter Oey said. The transaction is expected to close next year, meaning Atome’s contribution will be more meaningful toward the latter part of that year and into 2028, he said. Grab expects its financial services segment to generate $500 million in adjusted EBITDA by 2028. Grab plans to retain Atome’s management team, while the period between the two stages will give the companies time to work on potential synergies, Oey said, also pointing to micro-investing as another potential opportunity in Southeast Asia and expressing a desire to work with regulators on fair credit access. Atome Financial’s $1 billion gross loan portfolio has maintained disciplined credit quality, with delinquency rates improving or stable across borrower cohorts.
