Grab Buys Atome in $1.49 Billion Push Into Consumer Lending

September 16, 2026 - 05:42

Grab is betting $1.49 billion on Atome Financial as it looks to expand its consumer lending business in Southeast Asia.

The ride hailing and delivery company announced it will acquire the buy now pay later platform outright, folding Atome's installment payment products into its own financial services arm. The deal marks one of Grab's largest moves yet in the region's crowded fintech space.

Atome has built a customer base across Singapore, Malaysia, Indonesia, the Philippines, and other markets, offering shoppers the option to split purchases into interest free installments. That model has proven popular among younger consumers who lack traditional credit cards but still want flexibility at checkout.

For Grab, the purchase fits a broader strategy. The company already runs payments, digital banking, and insurance operations through Grab Financial Group. Adding Atome gives it a direct lending engine and a merchant network that reaches thousands of retail partners.

Executives described the acquisition as a step toward what they call the next level of financial services, suggesting deeper integration between Grab's app, its payment wallet, and credit products tied to everyday spending.

The deal still requires regulatory approvals in several countries. If cleared, it would intensify competition with rivals like Sea Group's Shopee and regional banks that have been building their own installment offerings.

Analysts say the real test will be whether Grab can turn Atome's growth into sustainable profit, since buy now pay later firms often struggle with credit losses and thin margins.