Grab has agreed to buy a 60% stake in Atome Financial for $1.49 billion in cash. The transaction values Atome at approximately $2.5 billion. Atome, a buy now, pay later (BNPL) service, is backed by SoftBank and operates across Southeast Asia.

Grab aims to strengthen its financial services ecosystem through the acquisition. The deal is expected to close in the second half of 2024, subject to regulatory approvals. Grab will gain control of Atome’s user base and technology platform.

Atome will continue to operate as a separate entity post-acquisition. The investment reflects growing consolidation in the regional fintech sector. Both companies confirmed the terms in a joint statement.