Grab to Buy 60% of Atome for $1.49B, Raises 2028 Growth Targets

Grab will acquire a 60% stake in Atome Financial for $1.49 billion in cash , with completion expected by the third quarter of 2027 pending regulatory approval.

The remaining 40% will be linked to Atome’s revenue and adjusted EBITDA performance over two years.

The deal is intended to accelerate Grab’s consumer-lending business by adding Atome’s more than $1 billion loan book, 25 million cumulative users and relationships with over 30,000 brands.

Grab sees potential to expand its lending user base by more than tenfold.

Grab raised its 2025–2028 revenue growth target to over 30% annually and lifted its 2028 adjusted EBITDA goal to $1.7 billion.

It also targets a financial-services loan portfolio above $6 billion and $500 million in segment adjusted EBITDA by 2028, while planning roughly $900 million in additional share buybacks.

Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter Grab NASDAQ: GRAB said it has agreed to acquire a controlling 60% equity interest in consumer finance platform Atome Financial, a transaction the Southeast Asian technology company said would accelerate the scale and profitability of its financial-services segment.

Chief Executive Officer Anthony Tan described the deal as a move to deepen financial inclusion among underbanked consumers in Southeast Asia, where Grab said credit-card ownership and formal borrowing remain limited.

Tan said Grab is acquiring the stake for $1.49 billion in cash, funded from existing cash, with completion expected by the third quarter of 2027, subject to regulatory approvals.

The remaining 40% interest will be tied to Atome’s adjusted EBITDA and revenue performance over the following two years, Grab said.

The structure is intended to link the full transaction value to Atome’s delivered results while allowing Atome’s management team to continue operating the business during the earn-out period.

Atome provides buy now, pay later services, a pay-later card and cash loans.

Tan said the company has a gross loan book of more than $1 billion, relationships with more than 30,000 unique brands and over 25 million cumulative transacting users.

Atome operates in five of the six markets where Grab operates, according to management.

Grab said Atome is already adjusted EBITDA positive and has grown gross merchandise value more than ninefold over the past six years.

Tan said Atome’s consumer underwriting engine uses more than 100,000 variables and 131 models, enabling real-time credit decisions.

He also said Atome has more than 22 live artificial-intelligence applications across its risk stack.

Grab’s existing lending operations have focused primarily on drivers, merchants and its digital-bank customers.

Only 1% of Grab’s 138 million annual transacting users currently borrow from the company, Tan said.

Management sees potential to expand the lending user base by more than 10 times over the medium term through the combined platforms.

“Atome is the natural next stage,” Tan said, describing consumer lending as a complementary addition to Grab’s existing payments, insurance, investment and digital-banking offerings.

Alex Hungate, Grab’s president and chief operating officer, said buying Atome would allow Grab to “leapfrog” years of development in consumer lending, including the creation of underwriting models and distribution relationships.

He said Grab expects to maintain both companies’ existing consumer-lending offerings in markets where they overlap, including Singapore and Malaysia, rathe...