{"id":238107,"date":"2025-03-13T15:25:17","date_gmt":"2025-03-13T07:25:17","guid":{"rendered":"https:\/\/www.grab.com\/sg\/?post_type=editorial&p=238107"},"modified":"2025-03-13T17:19:36","modified_gmt":"2025-03-13T09:19:36","slug":"cfo-peter-oey-run-the-numbers-podcast","status":"publish","type":"editorial","link":"https:\/\/www.grab.com\/sg\/inside-grab\/stories\/cfo-peter-oey-run-the-numbers-podcast\/","title":{"rendered":"[Watch] CFO Peter Oey explains how Grab defined the superapp game in Southeast Asia"},"content":{"rendered":"\t\t
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\u201cAbout two-thirds of our user base use two or three products\u2026And what we want to see over time is more and more users using all parts of our different products and services,\u201d says CFO Peter Oey on the latest episode of Run the Numbers, a podcast hosted by PartsTech CFO CJ Gustafson.\u00a0<\/p>

Run the Numbers invites CFOs and business leaders to share their perspectives on growing and scaling businesses. Peter and CJ discuss Grab\u2019s path to growth, why its superapp business model took off in Southeast Asia, and what it takes for companies to succeed in the region.\u00a0<\/p>

In the beginning, Grab was founded to make it safer for users\u2014especially women\u2014to travel in Malaysia. Its superapp business model emerged over time, \u201cfrom customer feedback,\u201d Peter explains.\u00a0<\/p>

Today, Grab users can book two-wheeled or three-wheeled rides or four-wheeled rides to get around. Beyond transportation, they can also order food and groceries, manage their finances and much more\u2014all through one app\u2013Peter says. Grab has \u201cmultiple touchpoints with customers every single day, and [at] lots of intervals within the day itself.\u201d<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Peter and CJ discuss why operating in Southeast Asia is unique and why its path to growth looks different compared with US-based peers including Uber, Instacart, and Doordash.\u00a0<\/p>

\u201cOur point of differentiation was that we were able to localise the product much more, versus taking more of a global approach that some of our peers do today,\u201d explains Peter. \u201cWe need to recruit drivers [and] merchants on our platform\u2026that local touch with a specific city is really important.\u201d\u00a0<\/p>

Peter also explains why Grab\u2019s financial services are key to its growth. About 60 per cent of Southeast Asians are underbanked or underserved. But, Peter says, Grab has a \u201ccaptive audience\u201d of drivers and merchants who regularly transact through its platform. \u201cWe know these drivers, they\u2019re on our platform, and we know how much they earn\u2026[so, we\u2019re] willing to actually underwrite them.\u201d Grab offers loans to merchants and consumers in its ecosystem too.\u00a0<\/p>

Peter and CJ discuss other growth areas for Grab. Its advertising business, for example, is showing promise. \u201cThere\u2019s a lot of opportunity in the advertising space for us in Southeast Asia\u201d, explains Peter, especially as Grab grows its groceries business. \u201c[Reaching] more transacting users that we can target with FMCG backing\u2026could add another layer of growth for us.\u201d\u00a0<\/p>

Grab now serves 1 in 20 Southeast Asians but Peter believes Grab can serve more. Enabling users to access products in other Grab business verticals is an important driver of this. \u201cThe way we think about lifetime value is not just [about] the customers using our product, but also the drivers [and merchants too],\u201d Peter says.\u00a0<\/p>

With 44 million users in its ecosystem and 10 million transactions through its app per day, Grab has come a long way since its early days as a principally ride-hailing business. From its young and tech-savvy population to its growing pool of tech talent in the region, Peter explains to CJ why he\u2019s confident in Grab\u2019s runway for growth in the region it calls home.<\/p>

Tune in to the full conversation between Peter and CJ on the following platforms:<\/p>