Grab Acquires Controlling Stake in Atome Financial for $1.49 Billion
Grab Holdings Limited (NASDAQ:GRAB) has agreed to acquire a controlling 60% stake in fintech company Atome Financial for $1.49 billion in cash, aiming to expand its consumer lending business across Southeast Asia. The deal is expected to close by the third quarter of 2027 and requires regulatory approvals. Atome operates in five countries with over 30,000 brands on its platform and a gross loan portfolio of $1 billion. Grab plans to combine Atome's AI-powered lending infrastructure with its own data ecosystem to enhance underwriting capabilities and expand access to credit for consumers. The company also intends to acquire the remaining 40% stake in two years, based on performance-linked valuation terms between $2 billion and $4.5 billion. Grab has raised financial targets for 2028, including a projected adjusted EBITDA of $1.7 billion and over 30% annual revenue growth from 2025 to 2028. The acquisition is fully funded by existing cash reserves, with no impact on Grab's share repurchase program. As of June 30, 2026, the company had $7.4 billion in gross liquidity and reported a modest stock price increase following the announcement.
Tickers: $GRAB
Topics: consumer lending expansion fintech