Grab becomes super-app
Ride-hailing giant Grab, the number one in Southeast Asia, is expanding its operations in the region.
In order to expand the reach of its all-in-one app – from ride-hailing to food delivery – Grab is investing heavily in various local and regional startups in Southeast Asia. Moreover, Grab plans to make two to four new strategic investments in startups every year. Backed by the SoftBank Group, Grab Ventures targets companies now at series B or higher fundraising stages. In addition, Grab says it is actively looking for potential acquisitions as well.
The main goal is to become the region’s super app, expanding from its base in Singapore, over its eight Southeast Asian countries, including Vietnam, and Indonesia. In the latter Grab said it will invest $2 billion alone over the next five years since Indonesia is the region’s biggest economy and the most important market for Grab.