Grab Financial Group
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Grab Financial Group - overview
Established
2018
Location
Singapore, -, Singapore
Primary Industry
Financial Services
About
Based in Singapore, Grab Financial Group is a financial services provider that integrates digital payment solutions and financial products tailored for consumers and businesses across Southeast Asia. Grab Financial Group operates as a subsidiary of Grab Holdings Inc. and focuses on offering a variety of financial services. Founded in 2018 in Singapore, the company has made two notable deals, with the most recent round occurring in December 2022, where they raised USD 444 mn in venture funding led by Grab Holdings Inc.
The founder, Anthony Tan, has a significant background in entrepreneurship. Grab offers a comprehensive suite of services tailored to meet the diverse needs of consumers, drivers, merchants, and enterprises across Southeast Asia. Its core product offerings include ride-hailing services for transportation, food delivery through GrabFood, and on-demand delivery services via GrabExpress. Additionally, Grab provides financial services such as GrabPay, allowing for cashless transactions, and various insurance products.
Their services cater to individual consumers, driver-partners, and merchant-partners, enhancing everyday tasks such as commuting, meal deliveries, and financial transactions throughout key markets including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, Myanmar, and Cambodia. In 2023, Grab Financial Group reported a revenue of USD 75. 11 mn, while recording an EBITDA of USD -6. 47 mn for the same year.
Their revenue model is diversified, relying on B2C transactions across their platforms, and they charge customers for rides as well as delivery orders, with additional fees for financial services through GrabPay. Grab Financial Group plans to utilize the recent funding of USD 444 mn raised in December 2022 to support the development and launch of new financial products aimed at expanding their service offerings. The company is also targeting expansion into new geographic regions, although specific markets have not been disclosed. This funding is expected to enhance their capabilities in providing innovative financial solutions to a broader customer base.
Current Investors
Granite Asia, Arbor Ventures, Flourish Ventures
Primary Industry
Financial Services
Sub Industries
Courier & Delivery Services, Food, e-Financial
Website
www.grab.com/sg
Verticals
FinTech, Mobile Apps
Company Stage
Series A
Total Amount Raised
Subscriber access only
Grab Financial Group - timeline of key events
Grab Financial Group - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 496,305 | 57,386,000 | 63,343,000 | 71,048,000 | 67,958,000 | - | - | - |
| % Revenue Growth (YoY) | - | 11462.6% | 10.4% | 12.2% | (4.3%) | - | - | - |
| EBITDA (USD) | (4,156,720) | (2,690,000) | (20,310,000) | (6,718,000) | (29,686,000) | - | - | - |
| Operating Income (USD) | (4,156,720) | (2,690,000) | (20,310,000) | (6,718,000) | (29,686,000) | - | - | - |
| Operating Margin | (837.5%) | (4.7%) | (32.1%) | (9.5%) | (43.7%) | - | - | - |
| % EBITDA Margin | (837.5%) | (4.7%) | (32.1%) | (9.5%) | (43.7%) | - | - | - |
| NET Income (USD) | (4,136,516) | (2,775,000) | (19,823,000) | (7,867,000) | (28,607,000) | - | - | - |
| % Net Margin | (833.5%) | (4.8%) | (31.3%) | (11.1%) | (42.1%) | - | - | - |
Grab Financial Group - employee data
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