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BREAKING NEWS

Singapore's Grab invests in London startup Splyt

Singapore's Grab invests in London startup Splyt
FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga -
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Anshuman Daga(Reuters)
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SINGAPORE (Reuters) – Singaporean ride-hailing firm Grab has invested in London-based startup Splyt Technologies and extended a partnership between the two companies that will expand the reach of Grab’s services beyond Southeast Asia.

Splyt’s technology will allow Grab users travelling outside the region to be able to book rides through the Grab app, and have them fulfilled by Splyt’s partners without having to download another app, the companies said in a statement.

The partnership is in line with Grab’s strategy of becoming a ‘super-app’ by expanding its range of services, from transport to food delivery and payments.

Under the Grab and Splyt partnership, Ctrip and AliPay customers visiting Southeast Asia can already take Grab rides through their own apps. Grab’s investment is part of an $8 million fundraising round by Splyt.

While Splyt does not operate its own ride-hailing service, its platform gives its partners access to ride-hailing inventory in more than 1,000 cities.

(Reporting by Aradhana Aravindan; Editing by Himani Sarkar)

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