Grab has agreed to pay $1.49 billion for 60% of Singapore-based digital lender Atome Financial, then acquire the remaining 40% about two years after the first deal closes at a performance-linked price. The first deal is expected to close by Q3 2027, pending regulatory approval.
The initial cash payment includes $260 million in primary growth capital and is funded entirely from Grab’s existing cash. The later purchase price is not fixed: the framework puts Atome’s equity valuation between $2 billion and $4.5 billion, based on its revenue and adjusted EBITDA before the second closing.
Atome operates in Singapore, Malaysia, the Philippines, Indonesia and Thailand. It had 25 million cumulative transacted users and a gross loan portfolio of about $1 billion as of June 30. Grab expects its Financial Services segment, including Atome, to reach $500 million in adjusted EBITDA and a gross loan portfolio above $6 billion by 2028, subject to the transaction’s timing. President and COO Alex Hungate said Grab’s digital banks could help lower Atome’s funding costs.
