SINGAPORE – Grab Holdings has agreed to buy a majority stake in Singapore-based, buy-now-pay-later platform Atome Financial for US$1.49 billion (S$1.9 billion), staking a major bet on financial services as it builds out a new pillar of growth.
The ride-hailing and delivery firm is acquiring 60 per cent of Atome as part of a deal with its parent, Advance Intelligence Group, and certain other parties, according to a statement released by Grab on Sept 15.
The purchase will give Grab a stronger foothold in the consumer lending business in South-east Asia, helping it expand beyond its app ecosystem to spur growth and gain new customers.
Grab said it now expects to grow its loan book to over US$6 billion by 2028, including Atome, compared with a previous target of more than US$3 billion by the end of 2026.
Grab is trying to revive triple-digit growth that fell by the wayside years ago after fierce competition cut into its market share.
The Uber Technologies-backed company has rolled out new features to tempt users in countries with challenging economic conditions, like AI-powered tools and functions that allow customers to split rides with friends.
Shares of Grab have declined almost 40 per cent in 2026, giving the company a market value of US$12.3 billion.
In 2026, Grab purchased Stash Financial in the United States at an enterprise value of US$425 million, as well as meal-delivery firm Foodpanda’s Taiwan operations from Delivery Hero for US$600 million.
Atome, which stands for “Available to me”, offers consumers flexible payment solutions at online and offline retailers in fashion, beauty, lifestyle, travel, fitness and homeware, according to its website. Its revenue in 2025 surged 80 per cent to US$470 million, helping the company achieve its second-straight annual profit before taxes. BLOOMBERG
