Grab expands South-east Asia lending reach with US$1.49b Atome deal

Singapore-based ride-hailing giant Grab has announced its acquisition of a controlling stake in Atome Financial, a leading digital finance firm operating in Southeast Asia. The deal is valued at US$1.49 billion, and will give Grab a 60-percent equity interest in Atome Financial. This acquisition aims to expand Grab's reach in providing loans to users across the region, particularly those without a formal credit history.

The combined entity would develop products that offer everyday financing solutions to millions of people in Southeast Asia who have been excluded from traditional banking. Grab will benefit from Atome's consumer lending platform, while Atome will gain access to Grab's regional ecosystem, enabling them to open new distribution channels.

Both companies see this partnership as a means to responsibly extend financial access to the unbanked and underbanked in the region.