This article is from the public number: investment community (ID: pedalaily2012) , author: Qian any, from the title FIG DoNews

Now,Grab can’t be simply defined by “car-sharing platform”. After 8 years of business, Grab’s business has grown wildly with nearly 20 financing rounds. Right now, a “didi + Meituan + Ant” super app is on the rise.

Sweeping financial markets, Grab’s ambitions in Southeast Asia’s “super unicorn” cannot be hidden.

In the investment community, Grab recently announced that it has received $ 850 million in new financing. Investors include Mitsubishi UFJ Financial Group (MUFG) and Japan Data center and cloud service provider TIS. Among them, MUFG invested USD 706 million and TIS invested USD 150 million.

It is understood that Grab will work with new investors to develop finance-related businesses and scenarios. MUFG and its Ayutthaya Bank of Thailand and Indonesian Financial Bank will become the “first choice” for Grab financial cooperation. Grab will also work with TIS to develop a mobile payment infrastructure in Southeast Asia.

Grab can’t be defined simply by “car-sharing platform”. After 8 years of business, Grab’s business has grown wildly with nearly 20 financing rounds. In 2019, Grab clearly positioned itself as a “car-hailing, food takeaway, and digital payment provider”. Right now, a “didi + Meituan + Ant” super app is on the rise.

Eight-year financing history of entrepreneurship: nearly 20 times, with a total amount of over 10 billion US dollars

Since its inception in 2012, Grab has completed nearly 20 financing rounds totaling more than $ 10 billion. Behind Grab are a number of “star” capital, including not only well-known VC / PEs such as Xiangfeng Investment, GGV, SoftBank, Tiger Global Fund, Gao Capital, CDH Investment, CIC, Ping An Capital, but also Didi Where to wait for Chinese companies, as well as traditional car companies such as Toyota and Honda.

In fact, after SoftBank and Didi entered the market, Grab achieved a leap in financing. In October 2014, Grab received an exclusive investment of $ 250 million from Softbank. Since then, Softbank has participated in almost every round of Grab’s large-scale investment and gradually increased its weight.

In March 2019, Softbank invested a large amount of USD 1.46 billion in the H round of financing that Grab is raising. In an interview with the media, Grab founder Chen Bingyao said that “SoftBank will provide unlimited support for Grab’s growth.”

Because of SoftBank’s relationship and the attractiveness of the Southeast Asian market, Grab shareholders have a lot of Japanese capital. Grab’s ambition to sweep the financial markets in Southeast Asia is now clear.

MUFG has frequently shot in Southeast Asian financial markets before. Ayutthaya Bank of Thailand was acquired in 2013, and Bank Danamon, the sixth largest financial bank in Indonesia, has been gradually acquired from shareholders such as Temasek in the past few years. MUFG also invests in local banks in other Southeast Asian countries such as Vietnam and the Philippines. Its MUFG Innovation Partners recently also invested in Carsome, a used car platform in Southeast Asia.

With the support of MUFG, Grab’s exploration of financial business will be faster.

Grab said that they will work with MUFG and TIS to provide innovative financial services, such as payments and microfinance, to meet the needs of a customer base in Southeast Asia that does not often use mainstream financial services. Grab and TIS will jointly develop digital payment infrastructure and emerging payment technologies in Southeast Asia and Japan, so that cashless payment methods can be put to practical use.

“Didi + Meituan + Ant”: The Rise of Super Apps in Southeast Asia

Grab’s ambitions in the Southeast Asian market have long been revealed. Grab currently operates Southeast Asia’s largest transportation network and is one of the most active taxi platforms in the region.

According to 2018 statistics, Grab has occupied 95% of the third-party taxi taxi market in Southeast Asia and more than 70% of the private taxi market. It is the first mobile travel service provider in Southeast Asia with annual revenue of more than US $ 1 billion.

However, Grab’s development goes far beyond its ride-hailing service.Grab now has three pillar businesses: financial services including payments, loans, insurance, rewards, etc .; mobile services including travel, takeaway, flash delivery, etc .; and open platforms for third-party partners.

In 2016, Grab launched the GrabPay wallet for the first time and began to enter the financial services business. The Grab Financial Group was established in 2018 and has established solutions for payments, points, loans and insurance. The investment community understands that Grab Finance is currently the only fintech company that has obtained an electronic payment license in major Southeast Asian countries such as Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand.

In 2019, Grab Financial Group launched the GrabPay e-wallet in the six ASEAN markets, becoming the first fintech platform to obtain an electronic currency license in the six major ASEAN economies; at the same time, Grab also cooperated with Singapore Telecom Singtel to jointly Apply for a full-fledged e-banking licence in Singapore.

In addition, Grab acquired Fortune Technology startup Bento, established GrabInvest, and introduced retail wealth management and investment solutions to the Grab ecosystem. (including drivers, merchants Partners, users) ; Grab also launched an insurance product for the C-end consumer (such as travel insurance) , for Grab’s online car rental Drivers and merchant partners add insurance products and services.

In the view of Grab President Ming Maa, the development of the Southeast Asian market in the field of mobile travel and payment has just begun, and it has huge potential. The financial services business will be Grab’s fastest-growing business unit. Revenue is expected to catch up in the next two to three years. Revenue from over-taxiing platforms.

The two giants want to merge? GoJek denied it

What’s more promising than announcing the financing is that the AOL technology media recently reported that the Southeast Asian unicorn Grab and GoJek are negotiating whether to merge.

It is reported that in the past two years, the senior management of the two companies have met occasionally, but in the past few months, the discussions on the merger have become more formal.

One personExecutives with details told the media that the first step in the merger of Grab and GoJek might consider abandoning the price war on taxis and food delivery to stop losses. In addition, both parties plan to further develop their loans and insurance services. The report also said that from a longer-term perspective, the merger of the two is to support each other with a view to further development in Southeast Asia. However, more specific details of the cooperation have not yet been disclosed.

However, yesterday GoJek denied the rumor.

A person in charge of an investment institution based in Southeast Asia who has long-term service going to the sea analyzed the investment community. Judging from the state before the merger of Didi and Uber, Grab and GoJek are extremely likely to merge. “If you see that the two sides are fighting more and more in the media and other levels in the next few weeks, it is estimated that they are talking about prices.” He judged that the resistance to the merger lies in prices because GoJek has no more business than Indonesia. , But the valuation is very high, “investors should want to exit very early.”

At present, GoJek is considered Grab’s biggest rival in Southeast Asia, and the two are constantly fighting. At the same time that Grab raised 10 billion U.S. dollars, GoJek’s total financing also exceeded 3 billion U.S. dollars, and it is continuing its F round of financing. And GoJek’s investors also have a lot of potential, including JD.com, Tencent, Google, Sequoia India, Samsung, KKR, and Huaping.

GoJek, founded in May 2011, was originally an Indonesian O2O platform, focusing on developing the Indonesian market. But then, the company launched the GoCar private car service and established a partnership with taxi company Blue Bird to start a taxi service. At that time, Uber and Grab also launched motorcycle taxi services in Indonesia, intensifying competition.

In March 2018, Grab announced the acquisition of Uber ’s Southeast Asian business. In November of the same year, GoJek announced its entry into Singapore. The competition between the two sides escalated again.

In terms of market share, Grab covers Southeast Asian countries such as Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, the Philippines, and Myanmar, and its business covers the areas of ride-hailing, delivery, express delivery, insurance, and mobile payment. GoJek’s main printing business has since opened up in Vietnam, Singapore, Thailand, and the Philippines. Its business has expanded from the original “three jumper” motorcycles to cars, takeaways, payments and even private jet travel.

Thus, the two industriesThe service overlap ratio is high. Although there is a potential merger, the chips in the hands are different, and there may be a long way to go in the future.

This article is from the public number: investment community (ID: pedalaily2012) , forBy: Ren Qian