Grab (GRAB) will acquire a 60% controlling stake in Atome Financial from Advance Intelligence Group and other sellers for $1.49 billion in cash, the ride-hailing company said in a Tuesday filing.

The deal will combine Atome Financial's buy-now-pay-later and lending businesses with Grab's financial services operations, strengthening the latter's consumer lending business and expanding access to credit across Southeast Asia, the company said.

Atome Financial has a gross loan portfolio of about $1 billion and a network of more than 30,000 brands, Grab said.

The deal, expected to close by Q3 2027, will be funded through existing cash and would be accretive to adjusted earnings before interest, taxes, depreciation, and amortization after closing, the company said.

Grab said it also agreed to acquire the remaining 40% stake about two years after the first transaction closes, with the price tied to Atome Financial's performance.