From CNBC · Jenny Lee · · 1m 20s
Grab bets $1.49 billion on Atome
Grab is buying Atome to push deeper into consumer lending and lift its 2028 financial services target.
In brief
Grab is buying Atome to push deeper into consumer lending and lift its 2028 financial services target. Grab sees consumer lending as its next growth lane, and Atome gives it merchants, customers, and credit products beyond its core app. Originally reported by CNBC.
Grab buys control
Grab will pay $1.49 billion in cash for an initial 60% stake in Singapore-based Atome Financial, a buy-now, pay-later platform.
The rest comes later
Grab plans to buy the remaining 40% roughly two years after the first deal closes. CFO Peter Oey said the staged structure helps lower capital allocation risk.
“de-risk”
Lending is the prize
The deal pushes Grab beyond payments and banking into consumer credit. Oey called consumer lending the next frontier for the company.
“next frontier”
Atome adds reach
Atome works with brands in travel, beauty, and e-commerce, areas where Grab has less reach today. That gives Grab a broader path into everyday borrowing.
Targets move higher
Grab raised its 2028 outlook and expects financial services to produce $500 million in adjusted EBITDA by then. Atome should matter more in late 2027 and 2028.
Buybacks keep going
Alongside the deal, Grab said it plans to finish the remaining roughly $900 million of its share repurchase program over the next 12 months.
The big picture
Grab sees consumer lending as its next growth lane, and Atome gives it merchants, customers, and credit products beyond its core app.
