Grab Financial Group was established in 2018 as the financial services division of Grab, Southeast Asia’s largest ride-hailing and delivery super app. Grab itself was founded in 2012 by Anthony Tan and Tan Hooi Ling in Malaysia, and it went public via SPAC on the NASDAQ in December 2021.
GrabPay, the division’s payment wallet, is one of the most widely used digital wallets across Southeast Asia. It processes payments for ride-hailing, food delivery, groceries, and retail purchases within the Grab ecosystem and at third-party merchants. GrabPay is accepted in Singapore, Malaysia, Philippines, Indonesia, Vietnam, Thailand, and other markets.
Beyond payments, Grab Financial offers lending products for both consumers and merchants. GrabFin provides personal loans and pay-later options, while merchant lending gives working capital to small businesses based on their transaction history within the Grab platform. This data-driven approach lets Grab underwrite borrowers that traditional banks wouldn’t touch.
Grab also holds a digital bank license in Singapore (through a consortium with Singtel) and Malaysia. GrabInvest provides micro-investment products, letting users invest spare change from their GrabPay wallets. GrabInsure offers microinsurance tied to ride-hailing and delivery usage.
The financial services segment has become increasingly important to Grab’s overall revenue mix. The company reported that its financial services reached profitability ahead of schedule. Grab Financial is headquartered in Singapore with operations across eight Southeast Asian countries.
