Grab, South-east Asia's biggest ride-hailing app, plans to invest US$100 million in Myanmar as it extends its battle with Uber Technologies to capture the increasing use of smartphones, Bloomberg has reported.
Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as GrabPay, its in-app digital payment feature, the firm's president Ming Maa said.
Since its debut in Yangon in March, Grab has grown to reach 25,000 bookings a day with more than 6,000 drivers.