While it’s still early days for the fintech major Grab Financial Group (GFG), it’s chief Reuben Lai has led it through a series of milestones last year — winning a digibank licence in Singapore, raising a $300 million Series A round, and negotiating the complexities of the region’s largest and most coveted market, Indonesia.
The “groundwork” of building the basic infrastructure has already been laid, said Lai at DealStreetAsia’s Asia PE-VC Summit 2021, during a fireside chat “Moving beyond payments to grow as a formidable fintech business in SE Asia.”
GFG’s next step will be to derive a greater proportion of its transactions from outside the Grab platform. If GFG wants to be a meaningful fintech superapp for Southeast Asia, it needs to be a fintech player for all internet transactions, and not just for Grab, said Lai.
Catch the full video of his talk at the summit here: