Grab Holdings has agreed to acquire a majority stake in Singapore-based buy-now-pay-later platform Atome Financial for $1.49 billion, marking a significant expansion into financial services.
The acquisition represents Grab's major push into lending and fintech as it develops a new revenue stream beyond ride-hailing and food delivery.
Atome Financial operates a buy-now-pay-later service across Southeast Asia, allowing consumers to make purchases and pay in installments. The platform serves millions of users across multiple markets in the region.
Grab's investment signals confidence in the BNPL sector despite recent market volatility in fintech. The move consolidates Grab's broader financial services strategy, which already includes payment processing and insurance offerings.
The deal expands Grab's presence in lending at a time when Southeast Asian consumers increasingly adopt alternative payment methods. Atome's established user base and infrastructure provide Grab with an immediate entry point into a competitive market.
The transaction underscores how major Southeast Asian platforms are diversifying beyond their core businesses into financial services to unlock additional growth opportunities.
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