Grab Indonesia Celebrates 2018's Achievements with Driver Partners - Photo by Grab Indonesia
JAKARTA (TheInsiderStories) Grab Holdings Inc., gets additional capital from Japan’ Financial services company, Tokyo Century Corp. In cumulative, the company has invest on the Southeast Asia O2O mobile platform around US$175 million.
The lessor also has made the capital investment in Grab Rentals Pte. Ltd., a car rental services provider in Singapore under the ride-hailing provider. No further information the total amount of the investment.
Tokyo Century has been offering financing of vehicles in Singapore, Malaysia and Indonesia since the establishment of the strategic partnership with Grab in 2016. The financial company said in a written statement today (01/09), will leverage its financial expertise through Grab’s platform, to address increasingly demanding and diverse needs of the ride-hailing industry.
With the latest investment, Grab Rentals is expected to improve its driver-partners’ experience by expanding its product offerings, including flexible-term rentals and an upcoming electric vehicle fleet.
Tokyo Century then increased investment in Grab in January 2018. The finance company that has been operating in several Southeast Asian countries said this additional investment was the latest step amid a stable collaborative business expansion with the operator.
Its expect with the latest investment, Grab Rentals will expand its product offerings to its drivers. It includes a rental business with a flexible time period and a fleet of upcoming electric vehicles.

Last year, Grab has raised $2 billion investment, whereas Toyota Motor Corp., announced to invested as much as $1 billion in the ride-hailing provider. Toyota has been joined by a slate of leading global financial institutions such as Macquarie Capital, OppenheimerFunds, Ping An Capital, Mirae Asset – Naver Asia Growth Fund, Cinda Sino-Rock Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners, and other investors.

This investment by Toyota is the largest-ever by an automotive manufacturer in the global ride-hailing sector, and brings Grab closer to achieving its vision of becoming a one-stop mobility platform in Southeast Asia.

The oprator said, this investment allows Grab to further expand its range of O2O services, such as GrabFood and GrabPay, deeper into the region. Grab operates in 217 cities across eight Southeast Asian countries and offers users safe and affordable transport, food and package delivery, mobile payments and financial services through its Grab mobile app.

As today, the Grab app has been downloaded into over 100 million mobile devices, giving passengers access to over 6.6 million drivers and agents, and the region’s largest land transportation fleet delivering over 6 million rides per day.

Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services. Grab’s food delivery service, GrabFood, is the only food delivery company operating across Malaysia, Singapore, Vietnam, Indonesia, Philippines and Thailand.

In Indonesia, throughout 2018, Grab has expanded its services to 222 cities across the archipelago, from 12 cities in early 2017. In line with its business expansion, Grab currently leads the ride-hailing market in Indonesia with 60 percent of market share in the two-wheel segment and 70 percent of market share in the four-wheel segment.

Written by Staff Editor, Email: theinsiderstories@gmail.com

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