Grab is the first decacorn of Southeast Asia. But it is currently only operating in Southeast Asia. With the intention of expanding beyond the region, Grab invests in Splyt.
Splyt Technology is a London-based startup that offers mobility marketplace. Bloomberg reported that the now Singapore-based company involved in the Series A funding round of the British startup. The round raised $8 million in total.
Splyt plans on using the funding to boost up its expansion to new markets. As well as to improve its proprietary technology and strengthen network of institutional demand and supply partners.
This investment leads to further partnership of the two companies. As Grab stated it, the collaboration is to give travelers “convenient access to ride-hailing services anywhere in the world.”
Not Splyt’s first integrated ride-hailing app
Though the idea seems so brilliant, Grab would not be the first one to launch it. Previously, China’s Alipay has created a similar mini app that integrates a number of ride hailing apps from around the world. Currently, Chinese tourists can get a Grab ride using the mini app.
Alipay’s mini app also has Splyt behind it. Philipp Mintchin, CEO of the company stated that the company is continuing to seek for more partners. He wants to integrate mobility directly.
Furthermore, the two companies plan to integrate Splyt and Grab’s network mobility partners into the later. The companies expected this plan to work by next year.
By then, Grab users will be able to book a ride using the app when they were travelling outside Southeast Asia. They can also pay with their countries’ currency through the e-wallet provided in the app.
To match the feature, Grab will also add more features for travelers. For instance, in-app travel tips, restaurant reviews, and attraction recommendations. All to enhance travel experience through Grab.
