Grab launches lending services and insurance products

SINGAPORE (March 13): Ride-hailing operator Grab is growing its share in the competitive Southeast Asian financial market. The start-up today announced a partnership with Credit Saison, Japan’s largest credit card company, to provide loans and lending services in the region.

The joint venture company, called Grab Financial, will offer micro-financing products to consumers and small businesses in the region, Grab says. In particular, Grab Financial will focus on those who are currently not served by traditional banking services.

Tapping into Credit Saison’s expertise in credit analysis and consumer lending, it will leverage of the Grab’s network of 2.6 million drivers, as well as millions of consumers and SMEs across Southeast Asia.

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