Southeast Asian superapp Grab has significantly stepped up capital infusions into its fintech subsidiaries in 2025, signaling a deeper push to strengthen its financial services arm and reach segment profitability by next year, DealStreetAsia has reported.
Regulatory filings reviewed by DealStreetAsia show that Grab injected US$5 million into Asia Kredit, its consumer lending business, in March 2025—more than doubling the US$2.13 million allocated to the unit in November 2023.
That same month, Grab’s investment vehicle, A6 Holdings, transferred US$550 million into GP Network Asia, which operates payment and e-wallet platforms across Southeast Asia.
GP Network Asia previously received nearly US$987 million in December 2023.
GP Network Asia manages GPay operations in Malaysia and the Philippines and holds PT Bumi Cakrawala Perkasa, the Indonesian parent firm of OVO, a licensed e-wallet provider.
Grab has confirmed the internal fund transfers.
These capital injections follow regulatory approval earlier this year for GXS Bank—Grab’s digital banking joint venture with Singtel—to acquire Validus Capital, the Singapore-based SME lender under Validus Investment Holdings.
The company’s financial services division, which includes lending, digital banking, and payments, is currently its fastest-growing segment by revenue.
However, it remains the only major unit yet to turn a profit.
In Q1 2025, adjusted EBITDA losses for the segment widened to US$30 million from US$28 million a year earlier, largely due to increased credit loss provisions as Grab ramped up lending activity.
By the end of the quarter, its loan portfolio had grown 56% year-on-year to US$566 million.
In contrast, Grab’s other businesses continued to deliver gains.
The delivery segment posted US$159 million in adjusted EBITDA, up 16% year-on-year, while mobility reported US$63 million, a 50% increase from the same period in 2024.
During the company’s most recent earnings call, Grab President and COO Alex Hungate said the firm intends to grow its loan book prudently while remaining focused on cost discipline.
He reaffirmed plans to break even in the financial services segment by the second half of 2026.
Industry observers believe the expanded lending efforts play a broader strategic role.
By leveraging transaction data across rides, deliveries, and payments, Grab can offer more targeted microloans and credit products, boosting user engagement and reinforcing its ecosystem.
Featured image credit: Edited from Freepik
