As per this strategic partnership, Central Group will help Grab to expand its business in Thailand

Thailand’s largest shopping mall and department store operator, Central Group, is planning to invest US$200 million in ride-hailing giant Grab, says a Bloomberg report, citing people aware of the development. The investment will go into the Grab’s company’s Thai unit.

As per this strategic partnership, Central Group will help Grab to expand its business in Thailand.

Headquartered in Singapore, Grab is the largest O2O mobile platform in Southeast Asia, providing everyday services, including food and package delivery, mobile payments and financial services, in addition to taxi hailing. Currently, it operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.

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Since launch, Grab has secured US$7.1 billion across 21 investment rounds, from the likes of Hyundai Motor company, Yamaha Motor Company, and Microsoft. The latest funding came from Japanese financial services company Tokyo Century Corporation early this month. The money would be going into Grab’s car rental arm, Grab Rentals.

Central Group consists of a variety of diverse investments in various corporations, including the retail, property development, brand management, hospitality, and food and beverage industries. A few hours ago, Central Group teamed up with JD.com to start a digital wallet platform to promote cashless payments in Thailand.

Called Dolfin Wallet, this wallet will go live in two to three months. The platform, which settles payments by reading QR codes on smartphones and other devices, will be run by Central JD Money, a subsidiary of Central Group and the JD.com joint venture Central JD Fintech Holding.

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