Ride-Hailing Grab Gets Funding From Tokyo Century

Singapore is one of the locations where Grab's ride-hailing service is currently available. Photo via Wikimedia.
Singapore is one of the locations where Grab's ride-hailing service is currently available. Photo via Wikimedia.

Grab, a Southeast Asian ride-hailing company, has entered into a partnership with Tokyo Century Corp., a financial services company, according to a report by Asset Finance International. The two companies will collaborate on new leasing and car rental options for Grab drivers.

Tokyo Century will be funding leasing activities for Grab drivers in its six countries of operation in Southeast Asia, including Singapore, Malaysia, the Philippines, Indonesia, Thailand, and Vietnam, according to the report.

“Through our partnership, we will accelerate the growth of our business through new types of mobility, such as ride-hailing, develop financial services using the advanced technology of Grab’s digital platform, and expand our auto finance business across Southeast Asia,” Yasushi Yoshino, senior managing executive officer of Tokyo Century, told Asset Finance International.

Grab currently offers private car, motorbike, and carpooling services across six countries and 34 cities. Grab also offers a variety of cashless options with its services, such as its in-app mobile payment platform GrabPay.

Click here for the full Asset Finance International report.

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