Southeast Asia’s leading ride hailing platform Grab has announced the rollout of new tech features including localised apps to grab market shares in Yangon, the former capital of Myanmar, where it launched its services in March this year.
In Yangon, Grab competes with global rival Uber and two local players, Hello Cabs and Oway Ride. Grab has signed up 5,000 partner drivers who are not restricted to any partnership with other ride hailing brands.
“Grab is now fully operational in Yangon. Building on feedback from our beta trial, the next phase for Grab in Myanmar is focused on bringing a five-star experience to driver-partners and passengers while supporting the government in upgrading its transport infrastructure,” said Hooi Ling Tan, co-founder of Grab.
Describing themselves as more than just a ride-hailing platform, Grab is looking into payments space in Myanmar as well.
“Payment is the other one Grab is already investing into as part of the ride-hailing improvement. The primary thing that you are seeing right now is the ride-hailing taxis but as part of that growth, we have already brought 5000 drivers and given them access to bank accounts. Bank accounts that they have never had before,” said Tan to DEALSTREETASIA.
Giving access to financial inclusion to their drivers and passengers is what they find as another huge opportune that they are looking forward to investing in, said Tan.
Founded in 2012, Grab has covered 65 cities in seven countries and has on board 1.1 million driver partners. They have about 50 million downloads of application so far.
With a team of 40 in Myanmar, they are currently not looking at expanding to other regions in the country.