Grab began operations in Malaysia in 2012 to address safety and efficiency in urban transport. After acquiring Uber’s Southeast Asia operations in 2018, the company transformed into a super app by 2019, integrating food delivery, digital payments, micro-loans and insurance. Today it serves more than 500 cities across eight countries, leveraging a unified platform to cross-sell services to over 40 million monthly active users who transact across mobility, deliveries and financial services.

In the third quarter, mobility revenue climbed 22% year-over-year to reach $873 million, driven by a 24% increase in gross merchandise value to $5.8 billion. Deliveries, which include food and grocery orders, posted 23% revenue growth to $465 million, aided by expanded advertising offerings and the rollout of GrabMart. Financial services—spanning digital wallet transactions and consumer lending—pursued a target $1 billion loan book by year-end 2025. These combined segments propelled adjusted EBITDA to $136 million in Q3, a 51% increase from the prior year, and led to the company’s first full-year profitability in 2025.

Investor caution has risen due to proposed regulations in Grab’s largest market, Indonesia, which would cap commission fees at 10% (down from the current 20%), require platforms to underwrite full accident and death insurance for drivers, and impose additional social protections. Concurrent scrutiny of a potential merger with local rival GoTo has fueled antitrust concerns. On top of that, competitive pressure remains intense from regional players offering aggressive merchant and driver incentives, raising execution risks for market share expansion and margin maintenance.

Earlier this month, Grab acquired Infermove, a China-based AI robotics startup founded in 2021, to accelerate first- and last-mile delivery automation. Infermove will continue operating independently under its founder, focusing on autonomous delivery robots and mixed-road driving systems. Grab’s cash reserves will fund R&D and pilot programs in key Southeast Asian hubs, positioning the company to capitalize on surging e-commerce volumes by reducing reliance on manual couriers and improving unit economics in its delivery network.