Grab, a Singapore-based ride-hailing company that operates in several markets across southeastern Asia, began offering financial products for retail consumers through its financial unit. The new products include a micro-investment service, loans, and “buy now, pay later” capabilities.

Why should we care?
Grab has often been called a “super app” because of its ability to combine e-commerce and financial services. The consumer product launch marks its pursuit of a new market: Grab had previously offered financial products for entrepreneurs and small businesses. Grab is a well-funded company with big ambitions in finance. In December, it applied for a banking license in Singapore. In February, the Softbank-backed company raised $856 million for payments and financial services and acquired robo-advisory firm Bento. This week, the company confirmed an additional $200 million fund raise from Koren private equity firm Stic Investments. In contrast to Uber, which has pulled back on its financial services offerings, Grab is aiming to become a major financial brand in its own right, but like many Softbank-backed companies, it faces the challenge of becoming profitable.