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

Key Points
  • 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.

Grab wants you to pay for your coffee with its app

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