Grab rolls out new tech features to capture market share in Myanmar

Photo: Juliet Shwe Gaung.

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.

Only yesterday, Grab announced a big-ticket fundraising of a total of $2.5 billion from China’s Didi Chuxing and Japan’s SoftBank Group in the largest single financing in the region.

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.

Also Read:

Uber partners licenced taxis for Myanmar foray

Exclusive: IFC to invest $3m equity in Myanmar’s ride-hailing service Oway

Exclusive: Myanmar’s Hello Cabs raises funding from iMyanmar Group founder

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.