Grab to acquire majority stake in BNPL provider Atome Financial

By Divya Shah

Singapore-based super-app Grab has agreed to acquire a 60% majority stake in buy now, pay later (BNPL) firm Atome Financial for $1.49 billion in cash, as it seeks to strengthen its financial services business across Southeast Asia. 

The proposed transaction, which includes $260 million in primary growth capital, is expected to close by the third quarter of 2027, subject to regulatory approvals and customary closing conditions. 

Grab has reached an agreement with Advance Intelligence Group Limited (AIGL), the parent company of Atome Financial. Following the completion of the deal, Grab will consolidate Atome Financial into its financial services segment, which currently includes digital banking, lending, payments and insurance offerings. 

Formerly known as Neuroncredit Pte, Atome Financial provides BNPL services, consumer cash loans, cards and digital lending products to approximately 25 million cumulative transacted users across Singapore, Malaysia, Indonesia, Thailand and the Philippines. The company currently manages a gross loan portfolio of around $1 billion. 

The acquisition is expected to expand Grab’s lending capabilities and strengthen its position in the region’s growing digital finance market. 

Atome Financial will continue to operate under its existing management team, led by CEO Jefferson Chen, following the transaction. 

Peter Oey, Chief Financial Officer of Grab, said that the company expects Atome Financial and the broader financial services division to generate an adjusted EBITDA of $500 million by 2028, supported by a combined gross loan portfolio exceeding $6 billion. 

The transaction represents the first phase of a broader acquisition plan. Grab has also agreed to purchase the remaining 40% stake in Atome Financial approximately two years after the initial deal closes. The second-stage acquisition will be based on a pre-agreed valuation framework rather than a fixed purchase price. 

The deal marks Grab’s second major FinTech acquisition this year. Earlier, the company announced plans to acquire Stash Financial, a US-based retail investment platform focused on fractional stock and ETF investing.