Grab has signed definitive agreements with Atome Financial, Advance Intelligence Group (AIGL) and other parties to purchase a controlling 60% stake in Atome Financial for $1.49bn in cash.
If the deal goes through, Atome Financial’s operations in buy now, pay later (BNPL) loans, consumer cash loans, BNPL cards and digital lending would be brought together with Grab’s financial services unit.
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Atome Financial is active in Singapore, Malaysia, the Philippines, Indonesia and Thailand, and has 25 million cumulative transacted users.
Grab’s financial services activities cover payments, digital banks, partner lending, insurance and consumer lending.
The transaction would give Grab a larger position in consumer lending through Atome Financial’s existing platform.
In turn, Atome Financial would gain broader access to users through Grab’s regional network.
The two companies are present in the same five Southeast Asian markets and said their offerings overlap only to a limited extent.
Grab has built lending products mainly for driver- and merchant-partners, while Atome Financial has concentrated on instalment payments and lending for consumers.
The combination would extend payment and financing options to Grab’s base of nearly 54 million Monthly Transacting Users, while also opening more opportunities for Grab to offer services through Atome Financial’s network of more than 30,000 brands.
The proposed acquisition would also add to their credit assessment capabilities.
Atome Financial’s AI-based lending infrastructure, combined with Grab’s user and ecosystem data, is expected to support credit risk assessment and product access, while helping to limit consumer over-indebtedness.
Grab said it will acquire the 60% stake for $1.49 billion in cash, including $0.26bn in primary growth capital (Phase 1).
The transaction is due to close by the third quarter of 2027, contingent on regulatory approvals and other customary closing conditions.
After completion, Grab will consolidate Atome Financial into its Financial Services segment, while Atome Financial’s management team will remain in place to oversee the business.
