Grab has announced an agreement to acquire Atome for $1.49 billion. This deal integrates Atome’s BNPL services, consumer loans, and digital lending operations into Grab’s existing financial services division.
Atome currently operates across Singapore, Malaysia, the Philippines, Indonesia, and Thailand. The platform reports a cumulative user base of 25 million people. Grab intends to leverage Atome’s AI-driven underwriting technology to expand its lending capabilities.
The acquisition aims to broaden financial access for users without formal credit histories. Grab’s president, Alex Hungate, noted that the merger will strengthen the company’s ecosystem and improve the profitability of its financial services segment.
Grab’s financial services portfolio already includes digital banking, insurance, and partner lending. Last year, 68% of the company’s drive-partner borrowers accessed formal credit for the first time through Grab’s platform.
