Singapore has become a regional hub for emerging technology firms buoyed by its established legal and regulatory frameworks, start-up ecosystem and proximity to Southeast Asia. As they scale quickly, including across customer reach, employees and data capabilities, these fast-developing businesses often require specialized financing to support accelerated expansion.
Grab, a leading Southeast Asian superapp, has been on a journey of expansion over the last decade. Starting as a ride-hailing app, the company has since expanded to become an everyday platform for millions of consumers, drivers- and delivery-partners and small businesses. Powered by its vast volumes of high-frequency, real-time data, technology and regional ecosystem, Grab is uniquely positioned to meet the needs of the six in 10 merchants who are unbanked and underserved across Southeast Asia, through its financial arm, Grab Financial Group (GFG).
Along the journey, HSBC Singapore has supported Grab with bespoke banking solutions to finance the growth of Grab’s Singapore vehicle fleet.1