Grab said on Tuesday it is rolling out several financial products including microinsurance and credit services to users in Southeast Asia.
Grab Financial, a unit of Southeast Asian ride-hailing giant Grab, said Tuesday it is rolling out several financial services across the region.
The company added it will launch an online insurance marketplace in April for entrepreneurs following a joint venture with China's Zhong An earlier this year. "We've experienced that ourselves," Reuben Lai, senior managing director of Grab Financial Group, told CNBC on Tuesday."I have launched four businesses in Grab and, in particular, there was this incident — it was one of my projects where I knocked on the doors of 20 banks to get financing."
The region also has a large under-banked and unbanked population, which has turned it into a battleground for financial technology, or fintech, companies such as Grab Financial, Gojek, Sea, Alibaba-affiliate Ant Financial and Chinese tech giant Tencent.
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