Grab Holdings Limited has announced its proposed acquisition of a 60% majority stake in Atome Financial, a digital financial services platform owned by Advance Intelligence Group Limited. The transaction, valued at $1.49b, includes $260m of primary growth capital. This strategic move is expected to bolster Grab’s financial services ecosystem by integrating Atome Financial’s consumer financing and digital lending capabilities, which include Buy Now, Pay Later (BNPL) loans, consumer cash loans, and digital lending services.
The acquisition will enable Grab to expand responsible financing options across Southeast Asia, particularly benefiting consumers without formal credit histories. The deal is structured in two phases, with Grab planning to acquire the remaining 40% of Atome Financial approximately two years after the initial acquisition, pending regulatory approvals.
Linklaters, a global law firm, is advising Grab on this complex transaction. The multidisciplinary team is led by corporate partner Niranjan Arasaratnam, who highlighted the transaction’s scale and regulatory complexity. “This significant transaction brings together two complementary financial services platforms operating across Southeast Asia,” Arasaratnam stated. “We are pleased to have supported Grab on a transaction that will strengthen its consumer lending capabilities.”
The acquisition underscores Grab’s commitment to enhancing its digital financial services and expanding its reach in the region. With a strong presence in deliveries, mobility, and financial services, Grab continues to solidify its position as a leading superapp in Southeast Asia. The completion of this transaction is anticipated to further integrate financial services within Grab’s platform, offering enhanced consumer lending solutions.
