Grab Makes $1.49 Billion Fintech Bet, Takes Control of Atome Financial

Grab Holdings Limited (NASDAQ:GRAB) said Tuesday it agreed to acquire a controlling 60% stake in Atome Financial for $1.49 billion in cash, expanding its consumer lending business across Southeast Asia. The transaction is expected to close by the third quarter of 2027. It remains subject to regulatory approvals and customary closing conditions. Expands Consumer Lending Atome Financial operates in Singapore, Malaysia, the Philippines, Indonesia and Thailand. It has served 25 million cumulative transacted users. Its offerings include buy now, pay later loans, consumer cash loans, cards and digital lending. Grab said the acquisition would combine Atome Financial’s AI-powered lending infrastructure with its own ecosystem data. The company expects the combination to strengthen underwriting and expand access to consumer credit. Atome Financial also has a network of more than 30,000 brands and a gross loan portfolio of about $1 billion. Grab also agreed to acquire the remaining 40% roughly two years after the first deal closes. That purchase will use a pre-agreed valuation formula based on Atome’s performance rather than a fixed price. The resulting equity valuation will have a $2 billion floor and a $4.5 billion cap. At least half of the consideration will be paid in cash. Grab Raises 2028 Targets Grab also raised its 2028 financial targets following the deal announcement. The company now expects $1.7 billion in adjusted EBITDA and group revenue to grow at a compound annual rate of more than 30% from 2025 through 2028. Grab expects its Financial Services segment, including Atome Financial, to generate $500 million in adjusted EBITDA and a gross loan portfolio of more than $6 billion by 2028. Grab will pay $1.49 billion in cash for the initial 60% stake, including $260 million of primary growth capital. The acquisition will be funded entirely with existing cash and is not expected to affect Grab’s share repurchase program. As of June 30, 2026, the company had $7.4 billion in gross cash liquidity, up from $6.9 billion at the end of the prior quarter. Net cash liquidity stood at $5.4 billion, compared with $5 billion a quarter earlier. GRAB Price Action: Grab Holdings shares were up 0.34% at $2.92 at the time of publication on Wednesday, according to Benzinga Pro data. Photo via Shutterstock Read Also: Jim Cramer: Reliance Is ‘Terrific,’ but He Prefers This Steel Stock