Experian invests in Grab to improve access to financial products and services for consumers across Southeast Asia
SINGAPORE, 5 July 2019 – Experian, the world leader in information services, is investing in Grab, the leading everyday super app in Southeast Asia, as both companies seek to improve access to mobility-enabled solutions and financial services for underbanked consumers in Southeast Asia.
Experian’s investment was part of Grab’s ongoing Series H funding round.
Reuben Lai, Senior Managing Director, Grab Financial Group, said: “We are proud to have Experian join our growing list of strategic investors who are convinced that they should join hands with Grab to unlock more opportunities for the unbanked and underserved communities to use our mobility-enabled solutions and financial services on the Grab Platform, enabling our customers to gain access to the digital economy and improve their livelihoods.”
Experian’s investment in Grab is its 4th in Asia, which is home to over a billion individuals who are still unbanked. Recognised globally as leading innovative companies, the strategic partnership will enable both companies to harness their technologies and data analytics to sharpen the way Grab customises its offerings for its users, which includes improving access to loans for aspiring entrepreneurs across the region.
Dev Dhiman, Managing Director, Southeast Asia & Emerging Markets, Experian, said: “Our mission has always been centred around helping the unbanked and underbanked population gain financial access with the use of data. Through leveraging data insights and collaboration with local partners, such as Grab, we aim to better understand and meet the financial needs of unbanked and underbanked consumers in the region. This investment in Grab takes us a step further to realising this ambition.”
Ben Elliott, Chief Executive Officer, Experian Asia Pacific, said: “We have a vision for the future of financial services, one that is powered by technology and alternative data. We want to transform the way consumers and businesses seek out financial products and services. This partnership with Grab, alongside our existing investments in the region, helps to build on our promise of matching the demand and supply of financial access to all consumers and businesses, driving greater financial inclusion.”
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