Ride-hailing and delivery firm Grab Holdings has agreed to acquire a majority 60% stake in buy‑now‑pay‑later platform Atome Financial, operated by Neuroncredit, for $1.49 billion in cash, according to a Tuesday statement.

As part of a deal with its parent Advance Intelligence Group and certain other parties, Grab plans to acquire the remaining 40% stake about two years after the completion of the first phase, which is expected to be completed by the third quarter of 2027.

The proposed transaction, if completed, would help Grab to strengthen its presence in the consumer lending business.

Grab expects its financial services segment, including Atome, to generate an adjusted EBITDA of $500 million by 2028 and its loan book to grow to over $6 billion by 2028.

The company has also raised its 2028 targets, forecasting adjusted EBITDA of $1.7 billion and annual revenue growth of more than 30% between 2025 and 2028.