Grab Financial Group

Grab Financial Group is a division of Grab, a Singapore-based company that started as a ride-hailing service and has since expanded into various sectors. The financial arm manages GrabPay and offers a range of financial services including insurance and loans. In March 2019, Grab Financial Group launched the "Grow with Grab" initiative, introducing lending and insurance services for its drivers in Singapore. The company's roadmap included plans to expand these services to include installment payments and an online checkout payment method for eligible micro and small businesses.

Grab Financial Group aims to provide accessible and affordable financial services to all, particularly focusing on micro-entrepreneurs and small and medium-sized enterprises (SMEs) in Southeast Asia. The company leverages its large user base and data insights to offer competitive financial products. As of March 2019, the Grab app had served more than 9 million micro-entrepreneurs over six years, positioning the company to address the financing challenges faced by SMEs in the ASEAN region, where two-thirds of SMEs cited business funding as their biggest problem.

Key customers and partnerships

Grab Financial Group's primary customers include drivers, micro-entrepreneurs, and small businesses across Southeast Asia. The company's financial services are designed to cater to the needs of these groups, who often face difficulties accessing traditional financial institutions. As of March 2019, the Grab app had served over 9 million micro-entrepreneurs, indicating a significant user base for its financial services.