Grab Holdings in Talks to Acquire Majority Stake in BNPL Firm Atome, Report Says

Southeast Asian technology company Grab Holdings Ltd. is in advanced talks to acquire a majority stake in the Singaporean buy-now-pay-later (BNPL) provider Atome Financial, according to a report from Bloomberg on Thursday.

Potential Deal Details

The discussions could value Atome Financial, a subsidiary of Advance Intelligence Group, at more than $2 billion, Bloomberg reported, citing people with knowledge of the matter who asked not to be identified because the talks are private.

Sources indicated that no final agreement has been reached, and the negotiations could still fall through. A successful acquisition would significantly expand Grab's footprint in the consumer credit and financial technology sector across the region.

Strategic Context for Grab

The potential deal comes as Grab continues an active acquisition strategy. Earlier this year, the company acquired US-based Stash Financial for $425 million and took over Foodpanda’s Taiwan operations from Delivery Hero for $600 million.

Ad

Despite its U.S.-listed shares declining 39% year-to-date, bringing its market capitalization to $12.4 billion, Grab upgraded its full-year earnings and revenue forecast last month. The company cited strong demand in its ride-hailing business as a key driver for the improved outlook.

Atome's Financial Profile

Atome provides flexible installment payment options for consumers in sectors such as fashion, travel, and beauty. The company has demonstrated strong growth, reporting an 80% increase in revenue to $470 million last year and marking its second consecutive year of pre-tax profitability.

Atome's parent company, Advance Intelligence Group, is backed by prominent investors including SoftBank Vision Fund 2 and Warburg Pincus, highlighting the scale and investor confidence in its business model.