Grab Acquires Majority Stake in Atome Financial for $1.49 Billion

SINGAPORE – Grab Holdings has officially agreed to acquire a 60% stake in Atome Financial, a Singapore-based buy-now-pay-later (BNPL) platform, for approximately US$1.49 billion (S$1.9 billion). This strategic move, announced on September 15, 2026, is part of Grab's broader initiative to enhance its financial services and consumer lending capabilities across Southeast Asia.

The acquisition will be executed in two phases: Grab will initially purchase the majority stake and will later acquire the remaining 40% within two years, contingent on Atome’s performance metrics, including earnings before interest, taxes, depreciation, and amortization (EBITDA) and revenue. The total valuation of Atome is expected to range between US$2 billion and US$4.5 billion, depending on these performance indicators.

Grab's entry into Atome Financial is part of its financial services segment, which already includes payments, digital banking, and insurance products. Grab aims to grow its loan portfolio to over US$6 billion by 2028, a substantial increase from its previous target of US$3 billion by the end of 2026. Alex Hungate, Grab's president and chief operating officer, emphasized that this acquisition allows the company to expedite its expansion into markets such as the Philippines, Indonesia, and Thailand, where it has been looking to establish a stronger presence.

“This acquisition is an opportunity for us to leapfrog the timeline for expansion into the Philippines, Indonesia, and Thailand.”Alex Hungate, President and COO, Grab

Atome Financial, which operates in Singapore, Malaysia, the Philippines, Indonesia, and Thailand, offers flexible payment solutions at various retailers, serving over 25 million users. The platform has reported a significant revenue increase, with an 80% surge to US$470 million in 2025, marking its second consecutive year of profitability before taxes.

Industry analysts note that this acquisition is a strategic move for Grab, particularly as consumer credit in Southeast Asia increasingly integrates within larger commerce platforms. Jianggan Li, CEO of consultancy Momentum Works, stated that consumer credit in Southeast Asia is increasingly sitting inside large commerce platforms or major wallet ecosystems, and as underwriting and collection increasingly become commoditized, distribution becomes more important.

“Consumer credit in Southeast Asia is increasingly sitting inside large commerce platforms or major wallet ecosystems.”Jianggan Li, CEO, Momentum Works

Grab's CFO, Peter Oey, projected that the financial services segment, including Atome, could generate an adjusted EBITDA of US$500 million by 2028, with a combined gross loan portfolio exceeding US$6 billion. The acquisition is expected to leverage Grab's existing user base of 54 million monthly transacting users, creating cross-selling opportunities within Atome's network of over 30,000 brands.

This acquisition is part of Grab's broader strategy to enhance its financial services through both organic growth and acquisitions. Earlier this year, the company also acquired Stash Financial in the United States for US$425 million and foodpanda's Taiwan operations for US$600 million. Grab's shares have seen a decline in 2026, leading to a current market valuation of approximately US$12.3 billion.

As Grab continues to expand its ecosystem, the integration of Atome Financial is expected to strengthen its position in the competitive Southeast Asian fintech landscape, providing innovative financial solutions to millions of users who may lack access to traditional banking services.