GRAB HOLDINGS, Inc. said it is partnering with travel company Booking Holdings, Inc., which would allow Grab users to book travel-related services on the app and pay through GrabPay.
The on-demand transportation company said in a statement on Tuesday Booking Holdings, whose platforms include Booking.com and Agoda.com, is investing $200 million in Grab.
Grab is targeting to raise more than $3 billion in funding by year’s end.
“With the partnership, Booking Holdings’ brands will have the ability to offer on-demand transport services through their apps, powered by Grab, and Grab customers will be able to book accommodations across the globe powered by Booking.com and Agoda,” it said.
The strategic partnership is expected to help Grab achieve its goal of becoming an everyday app offering ride-hailing, food delivery, package delivery and digital payment.
“We are delighted to work with Booking Holdings to give our users even more everyday services to choose from when they open the Grab app,” Grab President Ming Maa said in the statement.
“The online travel market in Southeast Asia is set to nearly triple by 2025 and we see numerous synergies between travel and transportation that will allow us to capitalize on this huge opportunity,” he added. — Denise A. Valdez
