How Grab Became a Super-App That Helps the Financially Underserved

Grab was already the Uber of Southeast Asia. Now the 'super-app' wants to deliver financial equality, too

Grab Was Already the Uber of Southeast Asia. Now the 'Super-App' Wants to Deliver Financial Equality, Toohe lunchtime rush is just bubbling at Kedai Kopi hawker center in Singapore’s Clementi neighborhood when Anthony Tan strolls in. The co-founder and CEO of the ride-hailing firm Grab orders himself a Horlicks malt drink, sits at a Formica table, and takes a sweep of the bustling vendors.

Tan envisages making Grab a “triple bottom line” company, measuring success not only by its balance sheet but also by its social and environmental impact, particularly through the financial services it now offers. Southeast Asia may be the world’s fastest-growing region economically, but those gains are uneven and 70% of the population is “underbanked,” not relying primarily on traditional banks.

Meanwhile, Grab’s shares now trade at less than a quarter of their IPO price. Tan puts this down to “timing,” given the drying-up of cheap money.

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