Food and financial services now make up more than 50% of Grab’s gross merchandise volume, according to Lim, adding that the margins for food delivery are better than for ride-hailing. — SCMP
Despite being known mainly as a ride-hailing company, Grab’s transport business is no longer the key driver of its growth.
With the company expanding into other services in the past few years, food and financial services now generate more than 50% of the Singapore-based company’s gross merchandise volume (GMV), according to Lim Kell Jay, regional head of Grab’s food delivery service GrabFood. GMV is the total value of sales transacted across the platform.
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