Grab Holdings Limited has announced a definitive agreement to acquire a 60% equity stake in Atome Financial, a digital financial services platform, for $1.49b. This strategic move is set to enhance Grab’s consumer lending capabilities across five Southeast Asian markets, including Singapore, Malaysia, and Indonesia.
The acquisition will integrate Atome Financial’s AI-driven lending infrastructure with Grab’s extensive ecosystem, aiming to provide greater financial access to underserved consumers and merchants. This collaboration is expected to accelerate Grab’s growth in consumer lending, with projections of a $6b gross loan portfolio by 2028. Additionally, Grab anticipates its Financial Services Segment Adjusted EBITDA to reach $500m by the same year.
Alex Hungate, President and COO of Grab, highlighted the importance of the transaction, stating, “The proposed transaction accelerates the growth and profitability of our financial services segment by deepening our consumer lending capabilities.” Jefferson Chen, CEO of Atome Financial, added, “With Grab’s ecosystem, we can extend financial access to millions more across Southeast Asia.”
The deal, expected to complete by Q3 2027, will see Grab financially consolidate Atome Financial into its Financial Services segment. A subsequent agreement allows Grab to acquire the remaining 40% stake in Atome Financial, contingent on regulatory approvals and performance metrics. This acquisition marks a significant step in Grab’s strategy to expand its financial services footprint in the region.
