Grab launches new venture to foray into financial services in SE Asia

Photo: Grab’s Facebook page

Southeast Asia’s Grabwhich entered into mobile payments with GrabPay last year, has now marked its foray into the region’s financial services space. With the launch of Grab Financial, the company aims to leverage its network of consumers, micro-entrepreneurs and small businesses.

Grab, which started as a ride-hailing service, announced its partnership with Japanese credit card company Credit Saison on Tuesday to provide lending services, micro-financing products and services tailored for the region. Grab also announced a partnership with property and casualty insurance company Chubb to offer insurance solutions to its drivers.

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