Growing internationally with Grab

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

Peter Oey

HSBC has been a strong supporter and valued partner of Grab. We look forward to deepening our partnership with them as our overall business continues to grow.
Peter Oey | Chief Financial Officer at Grab

Fast-forward four years, HSBC Singapore supported GFG with financing solutions that will see the company extend working-capital loans to its financially underserved merchant-partners. The solution marks a first-of-its-kind deal for PayLater by Grab, which has also secured key partnerships with Adyen and Stripe to expand its merchant network.

Peter Oey, Chief Financial Officer at Grab, said: “Securing this funding has been the first step in evolving our capital strategy as we continue to scale our lending business across Southeast Asia to tap on this significant growth opportunity. HSBC has been a strong supporter and valued partner of Grab. We look forward to deepening our partnership with them as our overall business continues to grow.”

Regina Lee

We are delighted to continue our partnership with Grab, bringing innovative financing solutions to support its continued growth across Southeast Asia.
Regina Lee | Head of Commercial Banking, HSBC Singapore

Regina Lee, Head of Commercial Banking, HSBC Singapore: “We are delighted to continue our partnership with Grab, bringing innovative financing solutions to support its continued growth across Southeast Asia. By bringing together our expertise across the region and products we have been able to provide Grab with the vital finance needed to support their growth journey.”

The financing underscores GrabFin’s move towards being more merchant-centric in its offerings and to support its merchant-partners’ business growth by providing a suite of tools and services including flexible payment options such as GrabPay and PayLater, working capital loans, GrabRewards, and GrabAds. Grab’s merchant-partners will also have access to the Grab ecosystem of over 30 million monthly transacting users (as of Q1 2022) across Southeast Asia.

Shaun Sakhrani

To scale quickly and meet consumer demand, tech companies often require creative solutions to unlock access to finance.
Shaun Sakhrani | Head of Structured Banking Southeast Asia, HSBC Singapore

Shaun Sakhrani, Head of Structured Banking Southeast Asia, HSBC Singapore: “To scale quickly and meet consumer demand, tech companies often require creative solutions to unlock access to finance, beyond traditional facilities with corporate-level covenants.”

Disclaimer

This document is prepared by HSBC Bank plc (“HSBC”) and is for the exclusive use of the person to whom it is provided. It is intended for reference and illustrative purposes only. It does not constitute an offer or solicitation for, or advice or recommendation that you should enter into any transaction with HSBC or any of its subsidiaries or affiliates.

HSBC has based this Document on information obtained from sources it believes to be reliable but which it has not independently verified. All information contained in this Document (including without limitation, information about products, terms and conditions, pricing, forecasts, market influences and HSBC policy) is subject to change from time to time without any obligation on HSBC to give notice of such change to you.

HSBC makes no guarantee, representation or warranty and accepts no responsibility or liability for the contents of this Document and/or as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Document to the maximum extent permitted by law. You are responsible for making your own evaluation about the products referred to in this document. HSBC recommends that before you make any decision or take any action that might affect you or your business, you consult with suitably qualified professional advisers to obtain the appropriate financial, legal, accounting, tax or other advice.

© Copyright. HSBC Bank plc 2022, ALL RIGHTS RESERVED. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC.