Grab Aims for 'Next Level' in Financial Services with Purchase of Buy Now Pay Later Platform Atome Grab, the Singaporean ride hailing giant, has made a bold move into consumer lending by acquiring Atome Financial, a buy now pay later platform based in Singapore.
The $1. 49 billion deal gives Grab a 60% controlling stake in Atome, with plans to purchase the remaining 40% in two years.
The acquisition of Atome brings Grab into the lucrative space of consumer lending, where it can tap into its existing user base and network effects to offer more comprehensive financial services.