Ride-hailing service Grab commits $100 million for Myanmar growth in latest challenge to Uber

• Grab and Uber launched services in Myanmar this year
• Rapid growth of mobile phones in Myanmar sees more turning to apps

Ride-hailing firm Grab, the main Southeast Asian rival of Uber Technologies, said it would commit $100 million over the next three years to deepen its presence in Myanmar, grow to more cities and roll out its other services.

Grab co-founders Tan Hooi Ling (left) and Anthony Tan celebrate the start-up's fifth anniversary.

Courtesy: Grab

Grab said it wanted to launch its payments platform, GrabPay, and build a local team of up to 200.

Both Grab and Uber launched services in Yangon earlier this year seeking growth in a market where internet penetration has exploded from next to nothing a few years ago to nearly 90
percent now, with more people turning to apps and mobile services.

Their plans coincide with a push by the authorities to work to revamp public transport, starting with the bus network in Yangon.