Grab to acquire 60% stake in Atome Financial for US$1.49b

Grab is set to acquire a controlling 60% stake in Atome Financial for US$1.49 billion, in a move that will expand the superapp's consumer lending capabilities across Southeast Asia.

The proposed acquisition covers Singapore, Malaysia, the Philippines, Indonesia and Thailand, where Atome Financial operates its buy now, pay later (BNPL), consumer cash loans, BNPL cards and digital lending services.

If completed, the deal will bring together Atome Financial's consumer lending platform with Grab's wider ecosystem spanning mobility, deliveries and financial services, opening up new opportunities for both companies to reach and cross-sell to consumers and merchants.

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Atome Financial, the digital financial services platform of Advance Intelligence Group (AIGL), has served 25 million cumulative transacted users and works with more than 30,000 brands. Grab, meanwhile, has nearly 54 million monthly transacting users across its ecosystem.

The companies said the combination could give Grab users greater access to flexible payment options, while allowing Grab to reach consumers across Atome Financial's merchant network. Atome Financial will also gain access to new distribution opportunities through Grab's regional ecosystem.

Central to the partnership will be the combination of Atome Financial's AI-powered lending infrastructure with Grab's ecosystem insights. The companies said this could strengthen credit underwriting and allow financial products to be extended to more consumers, including those without formal credit histories.

Grab and Atome Financial also plan to share risk-management insights, regulatory practices and collection strategies as they look to strengthen fraud prevention and responsible lending across their respective platforms.

Following completion of the acquisition, Atome Financial's management team will continue to lead the business, while the company will become part of Grab's financial services segment.

The transaction is expected to close by the third quarter of 2027, subject to regulatory approvals and other customary closing conditions. Grab has also agreed to acquire the remaining 40% stake in Atome Financial approximately two years after the initial transaction is completed.

“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," said Alex Hungate, president and chief operating officer, Grab. 

He added, "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. 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." 

In tandem, Jefferson Chen, chairman and CEO of AIGL, and CEO of Atome Financial said, “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," he added. 

The proposed acquisition also comes as Grab continues to expand the role of AI across its wider ecosystem, including efforts to drive adoption among businesses in Singapore. Earlier this year, the Infocomm Media Development Authority (IMDA) partnered with Grab to help 10,000 small and medium-sized enterprises (SMEs) across Singapore's food and beverage, retail and eCommerce sectors adopt AI.

Dubbed the "Grab AI Programme for SMEs", the initiative provides businesses with complimentary online training, masterclasses and webinars through GrabAcademy, aimed at raising AI awareness and literacy while addressing barriers such as uncertainty around practical use cases and implementation.

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