Grab to acquire majority stake in Atome for $1.9 billion

Grab Holdings Inc. has agreed to purchase a majority stake in Atome, a Singapore-headquartered fintech company, in a transaction valued at $1.9 billion, marking a significant expansion of its financial services operations in Southeast Asia.

The acquisition will enhance Grab's presence in the consumer lending sector, a key growth area for the platform economy across the region. Atome operates a buy-now-pay-later service that enables consumers to make purchases with flexible payment options, complementing Grab's existing offerings in payments and financial services.

The deal reflects Grab's strategic shift towards diversifying revenue streams beyond its core ride-hailing and food delivery businesses. Financial services, including lending products, have emerged as a major opportunity for Southeast Asian technology platforms seeking to deepen customer engagement and unlock new revenue sources.

Atome's established market presence and customer base across multiple Southeast Asian markets will provide Grab with immediate scale in the consumer lending space. The integration is expected to allow Grab to leverage its large user network to expand adoption of buy-now-pay-later services among its existing customer base.

The transaction is subject to customary closing conditions and regulatory approvals in relevant jurisdictions.