Grab

Grab is a ride-hailing platform that offers booking service for taxis, private cars, and motorbikes through one mobile. It is currently worth $14bn.

Formerly known as GrabTaxi, Grab is Southeast Asia’s leading ride-hailing platform. It offers a wide range of services through one centralised mobile app, from simple taxi services to now private car services (GrabCar), motorcycle taxis (GrabBike), and last mile delivery (GrabExpress).

Grab is present in 338 cities (224 of which are in Indonesia).

In 2018 Grab teamed up with Ping An Good Doctor, combining their customer base and operations experience with Ping An's medical tech to help offer better healthcare services to create joint ventureGrabHealth, and its platform Good Doctor Technology. In October of the following year, the platform had a limited release in Indonesia, offering features such as pharmacy services, healthcare information and advice, chat options and medical records. The service is available through the Grab app.

Grab also started a joint venture with Zhong An subsidiary, ZA International, to create a digital platform to distribute insurance products across South-East Asia. Set to launch in the first half of 2019, the platform will offer a range of products and reduced premiums to users via the Grab app.

In 2019, Grab announced the beta launch of GrabPet, an on-demand transportation service for pets that offers perks like microfiber towels, adjustable leashes, and, perhaps most importantly, extra insurance (by Liberty Insurance).

In 2019 Grab announced that, of the $7bn it had raised to date, its $2bn investment from SoftBank would go towards its operations in Indonesia (its largest market) for the next five years, putting it in direct competition with rival Gojek. Amongst other things, the money would be used to build a second HQ in Jakarta, and also to help modernise Indonesia's transportation infrastructure.

Grab raised $300m from Invesco in July 2019 as part of an ongoing Series H round that will be used for acquisition. The total funding of the round is already at $4.5bn, and is ont closed. SoftBank has made clear it would like to invest further into Grab, although no further details were provided.

In January 2020, Grab announced it was launching Travel Cover in partnership with Chubb. Travel Cover is an on-demand travel insurance service that can be purchased within the Grab app, enabling users to get cover from S$2.50 a day to any destination.

The following month, Grab revealed it had raised over $700m from Mitsubishi UFJ Financial Group, Japan's largest bank. According to reports, the Japanese bank plans to market a range of financial services to Grab's users, including insurance. It also partnered with Volocoptor to explore the possibilities of a flying taxi service in the region.

In March 2020 it was revealed that Grab Financial, the business unit of Grab’s payments, rewards and broader financial services, was planning to raise up to $300 million in order to independently launch the brand.