Southeast Asia super app Grab has acquired the lending business of buy now, pay later platform Atome for $1.5 billion, according to Techub News, citing Tech in Asia. The deal adds to Grab’s push into financial services after the company had already invested $1.2 billion to build its own credit capabilities. With the acquisition, Grab is looking to speed up the expansion of its finance operations. Atome’s lending engine is expected to support Grab as it broadens its reach in consumer credit and lending services for small and medium-sized enterprises. The transaction centers on strengthening Grab’s credit infrastructure rather than a broader acquisition described in the source. The report did not disclose additional deal terms beyond the purchase price and the strategic focus on lending.
Grab, the Southeast Asian super app, has acquired the lending business of buy now, pay later platform Atome for $1.5 billion, according to Techub News, citing Tech in Asia.
Grab had previously invested $1.2 billion to build its own credit capabilities. The acquisition is aimed at speeding up the company’s financial services expansion.
Atome’s lending engine will help Grab extend its consumer credit and small and medium-sized enterprise lending business.
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