Grab to Acquire DANA

By Editorial Team 13/09/2019
Summary

Grab is reportedly in talks with Elang Mahkota Teknologi (Emtek) to purchase the majority of DANA’s, the fintech and digital money company, shares. As reported by Reuters, Grab will incorporate DANA and OVO to their services in the future. Grab has already used Lippo Group-affiliated digital money for payment transactions in its ride-hailing app, but the integration of DANA will significantly increase the app’s accessibility.

Reuters also mentioned that Grab and Gojek are two best startups in South East Asia, operating in a similar transportation sector. However, their services vary and are not limited to ride-hailing services. Food order and delivery service of both companies, for example, is worth around US$ 14 billion and US$ 10 billion, respectively.

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