Grab partners Fave to accelerate payments, food delivery biz in SG, MY

Fave

Southeast Asia’s ride-hailing giant, Grab is partnering coupon deals platform, Fave, to accelerate its payments and food delivery business in Malaysia and Singapore.

Starting this week, Grab will bring Fave’s merchant network into its payments and food delivery platform. In October, Fave customers will be able to use GrabPay to spend at restaurants and retailers in Fave’s network. The integration of GrabPay wallet was done via GrabPlatform, a suite of APIs that allows Grab’s partners to access components of its technology.

Grab and Fave will also explore ways to help small and medium-sized enterprises grow their business. Their collaboration efforts will focus on integrating services covering Fave’s deals, QR code payments, cashback and Grab’s rewards loyalty programme.

Grab sees strategic partnerships as a key part of its strategy to build new business areas and deepen existing ones. At times, Grab picks up minority stakes in some of these partnerships through its venture arm, Grab Ventures.

Grab has been aggressively pursuing these partnerships across multiple markets.

In Vietnam, GrabExpress, the ride-hailing firm’s delivery arm secured a partnership with Sendo.vn, an e-commerce portal for a three-hour express delivery service in Ho Chi Minh City.

In Thailand, Grab was reportedly selling a stake in its Thai entity to the country’s largest retailer, Central Group to extend its ride-hailing, parcel delivery and food delivery services there.

Grab is also actively raising funds to fuel its ambitions to be Southeast Asia’s everyday super app. At DealStreetAsia’s PE-VC Summit in Singapore, Grab President Ming Ma said that the company is on track to raise an additional $1 billion by the end of this year.

“We closed $2 billion in our previous financing, we have commitments of another $500 million and we expect to close a little over $3 billion by the end of December,” Maa said.

According to reports, Grab is currently valued to be $10 billion.

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.

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.