Grab buys control of BNPL lender Atome for $1.49 billion

Grab (GRAB) is paying $1.49 billion in cash for a controlling 60% stake in Singapore's Atome, a buy now, pay later lender that lets shoppers split purchases into installments. Grab wants to lend to the tens of millions who already order rides and food through its app, and to reach people banks turn away for lack of credit history. It plans to buy the rest of Atome about two years after this deal closes.