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Grab expands into lending in Southeast Asia via new venture

Reuters  |  SINGAPORE 

By Aradhana Aravindan and Anshuman DagaSINGAPORE (Reuters) - Southeast Asia's Grab has teamed up with Japanese credit card company Credit Saison Co Ltd to provide loans and lending services in the region, marking the ride-hailing firm's biggest expansion into financial services.Their new joint venture firm, Grab Financial Services Asia, will offer micro-financing products and leverage Grab's network of millions of consumers and small businesses as well as data on consumer behaviour, blending it with Credit Saison's expertise in credit analysis and consumer lending.The move comes as Tencent's ...

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First Published: Tue, March 13 2018. 16:24 IST
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