The Singapore-based ride-hailing service Grab will invest in mission-driven mobile and fintech startups “focused on deepening financial inclusion” across cities and income levels in Indonesia.
Grab, an Uber rival that operates in six countries in Asia, raised a $750 million round last year, led by SoftBank, at a valuation of $3 billion.
The social impact investment is part of a $700 million “Grab 4 Indonesia 2020 Plan,” that includes an R&D center in Jakarta to train and employ 150 engineers in the next two years.
