The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Fintech

Inside Grab: Where southeast Asia’s most ambitious fintech goes next

Grab Financial launched a suite of new products on Tuesday, continuing a swift expansion that has yet to be accompanied by profitability.

RTX3979A-780x519



On Tuesday, Grab Financial Group, the fintech attached to the southeast Asian ride-hailing and food delivery leader, announced a set of new products and services from investment to insurance to third-party lending.

None of them, individually, is truly a game-changer. In aggregate, though, they offer a snapshot of a fast-expanding regional enterprise that isn’t going to wait to find out if it’s got a Singapore digital bank licence before setting an ambitious course.

We have come a long way since Grab launched its GrabPay Wallet in 2017 to tie in with its ride-hailing service. Already it feels like it has been around for ever in Singapore, steadily entwining itself with the everyday lives of consumers as all the best fintechs do.

First through reward points, then insurance joint ventures (ZhongAn) and credit cards (Citi, then a numberless card with Mastercard), the company has sought out niches and filled them where licences permit, mainly in Singapore, Malaysia and Indonesia, but increasingly across all of southeast Asia, framing the whole thing with its vision of accessibility and inclusion.

Thrive

And so to Tuesday. Grab calls its latest strategy ‘Thrive with Grab’, an extension of its previous ‘Grow with Grab’, and its centerpiece is a product called AutoInvest, a micro-investment that takes the small sums of money that sit around on Grab platforms in between cab rides and food delivery, and invests them in an account offering a modest yield.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree