Grab Reportedly in Talks to Acquire BNPL Platform Atome at Valuation Exceeding $2 Billion
nashnova research
Southeast Asia's super-app Grab is in talks to buy a majority stake in Singapore-based buy-now-pay-later platform Atome Financial at a valuation that could top US$2 billion — a deal that would mark Grab's largest fintech acquisition to date and accelerate consolidation in the region's BNPL market.
What exactly is on the table?
Bloomberg, citing people familiar with the matter, reports Grab is negotiating to acquire a majority stake in Atome Financial at a valuation potentially exceeding US$2 billion.
Discussions are ongoing; no final decision has been made. Grab, Atome, and parent company Advance Intelligence Group all declined to comment.
This means → the deal is still at the negotiation stage, but the size signal is already loud and clear.
What kind of company is Atome?
Atome sits under Advance Intelligence Group, whose backers include SoftBank Vision Fund 2 and Warburg Pincus.
Its core product is BNPL — buy now, pay later, meaning shoppers split a purchase into interest-free installments — across fashion, beauty, travel, fitness, and home retail, both online and offline.
2025 revenue rose 80% year-on-year to US$470 million, with a pre-tax profit for the second consecutive year.
In plain terms = this is not a cash-burning startup — it is already profitable and growing fast, which underpins the US$2 billion price tag.
Why is Grab moving now?
Grab has already closed two acquisitions this year: Stash Financial, a U.S. fintech, at an enterprise value of US$425 million, and Foodpanda's Taiwan operations from Delivery Hero for US$600 million.
Last month it raised full-year profit and revenue guidance — a signal it has cash to deploy.
This reflects Grab's push beyond ride-hailing and food delivery into financial services — BNPL is one of the shortest paths to monetizing its user spending data.
What does this mean for the market?
If completed, this would be Grab's largest fintech deal to date.
This means → consolidation in Southeast Asia's BNPL market is picking up speed — standalone players face a shrinking runway.
Grab is U.S.-listed and its shares have fallen 39% year-to-date, leaving a market cap of roughly US$12.4 billion. A US$2 billion-plus acquisition would amount to about one-sixth of that market cap — a significant bet.
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