Grab is buying a majority stake in BNPL platform Atome Financial for RM6.1 billion
Grab has made it official. The Southeast Asian superapp is buying a controlling 60% stake in Atome Financial for USD1.49 billion (RM6.1 billion) in cash, confirming the reports we covered earlier that it was eyeing the digital lending firm.
Atome Financial is probably best known for Atome, the buy now, pay later (BNPL) app that lets you split purchases into instalments, and which has been ranked the most popular BNPL app in Asia. Beyond BNPL, the company also does consumer cash loans, BNPL cards and other digital lending, and it operates across five markets including Malaysia, Singapore, Indonesia, the Philippines and Thailand, with 25 million users to its name.
The deal brings more than just Atome’s lending business under Grab. Grab will also gain access to Atome’s network of more than 30,000 brands, while Atome will be able to reach Grab’s roughly 54 million monthly users across Southeast Asia. Both companies say the partnership could help expand access to credit in the region, where more than 70% of adults are considered unbanked or underbanked.
“Everyone deserves access to responsible credit and financial services, not just those with a conventional banking history. 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.” – Jefferson Chen, Chairman and CEO of Advance Intelligence Group and CEO of Atome Financial
The acquisition will take place in two phases, starting with Grab acquiring a 60% stake in Atome Financial. Grab has also agreed to acquire the remaining 40% roughly two years later, while the first phase is expected to be completed around the third quarter of 2027, subject to regulatory approvals. The company says the USD1.49 billion purchase will be funded entirely using its existing cash.
Following the deal, Grab has also raised its financial targets for 2028, aiming for USD1.7 billion in adjusted EBITDA and more than 30% annual revenue growth from 2025. The revised targets show how much the company expects Atome and its lending business to contribute to its wider growth plans in the coming years.
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