Retail News CRM

Category: Startups

Retail News Asia is committed to providing both local and global retailers with the latest Startup news throughout the Asian market. This on a daily base.

  • Rose All Day Cosmetics Secures US$5.41 Million Series A Round

    Rose All Day Cosmetics Secures US$5.41 Million Series A Round

    Indonesian beauty brand Rose All Day Cosmetics raised US$5.41 million in a Series A funding round to finance its retail rollout and product line expansion. The company secured the financing as local cosmetics makers push for larger shares of Southeast Asia’s beauty and personal care market.

    The direct-to-consumer label plans to deploy the capital toward scaling its omnichannel retail footprint, improving product formulation pipelines, and bolstering distribution infrastructure across regional retail channels.

    Capital for regional distribution

    Founded to offer accessible daily beauty and skincare products, the brand built its initial customer base through online channels before expanding into physical retail counters, department stores, and beauty specialty chains. Direct-to-consumer beauty brands across Indonesia increasingly rely on physical shelf space to protect margins against rising digital acquisition costs.

    Offline distribution networks remain essential for consumer conversion in Southeast Asia, where physical storefronts and modern trade outlets still generate the bulk of personal care purchases. Securing shelf space in multi-brand retail chains gives local brands immediate access to foot traffic outside major metropolitan centres.

    Direct brand competition in Southeast Asia

    Venture investors continue backing local beauty startups in Indonesia, betting that domestic brands can defend domestic market share against legacy multinational operators. Similar consumer brand funding rounds across the region have targeted supply chain localization and regional export capabilities into neighbouring markets such as Malaysia and Vietnam.

    RetailNews Asia tracking shows that homegrown beauty labels in Jakarta face steepening competition for floor space in premium shopping malls and modern trade outlets. The next operational test for Rose All Day Cosmetics will be proving its unit economics across physical retail partners while managing regional inventory rollouts.

  • Indonesian Trading App Ajaib Raises $270 Million from Japan SBI Holdings

    Indonesian Trading App Ajaib Raises $270 Million from Japan SBI Holdings

    Indonesian online stock trading platform Ajaib has raised $270 million in a Series C funding round backed entirely by Japanese financial services conglomerate SBI Holdings. The transaction delivers one of the largest single equity checks into Southeast Asian retail financial technology this year.

    The capital injection gives Ajaib substantial runway to expand its wealth management and retail brokerage offerings across Indonesia. Jakarta has become a competitive battleground for digital brokerages seeking to convert first-time millennial and Gen Z savers into active market participants.

    Japanese capital targets Indonesian retail investing

    SBI Holdings has built a wide investment portfolio across Asian digital finance, backing regional digital banks, payment rails and cryptocurrency infrastructure. The group led the round directly, cementing a deeper balance-sheet commitment to Indonesia’s domestic capital markets.

    Southeast Asian fintech funding endured two years of compressed valuations and selective dealmaking following the 2021 market peak. A single $270 million commitment signals that large strategic investors are once again willing to write late-stage checks for established market leaders with deep domestic distribution.

    Expanding product lines across domestic markets

    Ajaib launched in 2018 targeting first-time retail investors through mobile-first stock trading and mutual fund distribution. The platform grew quickly during Indonesia’s retail investing boom, securing unicorn status in 2021 before adding digital asset products and margin financing services.

    RetailNews Asia notes that rival platforms across Jakarta and Singapore are racing to consolidate wealth management, bond distribution and consumer credit onto single interfaces. Japanese institutional backers like SBI provide both long-term capital and potential product partnerships as Indonesian regulators tighten compliance requirements for digital asset brokers.

    The company will deploy the capital toward platform security, customer acquisition and new asset management products ahead of scheduled regulatory reviews in Jakarta.

  • Wishlink Secures $17.5 Million in Series B Led by Vertex Ventures

    Wishlink Secures $17.5 Million in Series B Led by Vertex Ventures

    Indian creator commerce platform Wishlink raised $17.5 million in a Series B round led by Vertex Ventures Southeast Asia & India.

    The fresh injection gives the business capital to expand its creator network and deepen retail brand integrations across the country.

    Creator storefronts and brand integration

    Wishlink operates an infrastructure layer connecting social media creators directly with e-commerce brands and marketplaces. Creators curate personal storefronts, share trackable product links across short-form video and social channels, and earn commissions on completed orders. The model gives direct-to-consumer labels and large e-commerce platforms measurable sales attribution rather than unverified impressions from standard influencer campaigns.

    Performance retail drives venture interest

    Venture investors in South Asia continue to back commerce models where creator payouts tie directly to retail sales volume. Traditional influencer marketing budgets in India have faced tighter scrutiny over return on spend, leading consumer brands to reallocate capital to performance-driven affiliate channels. Vertex Ventures Southeast Asia & India led the transaction, expanding its portfolio of retail technology and digital commerce infrastructure companies across the region.

    Wishlink is deploying the new funds into tech infrastructure, automated creator discovery tools, and expanded brand onboarding across major consumer categories.

  • Asia-Pacific Startups Draw $2.4 Billion as Enterprise AI and Retail Tech Expand

    Asia-Pacific Startups Draw $2.4 Billion as Enterprise AI and Retail Tech Expand

    Early-stage companies across Asia-Pacific have secured a combined $2.4 billion in funding, with nearly $1 billion raised during 2026 alone.

    India led the regional cohort with 19 companies, followed by Singapore with 15, China with 10, Japan and South Korea with nine each, and Indonesia and Australia with eight apiece.

    Enterprise software and artificial intelligence providers account for almost a quarter of the group. Robotics suppliers, green technology providers and consumer commerce platforms took up most of the remaining slots across 16 countries and territories.

    Capital flows into retail networks and distribution

    Consumer-facing operators and supply chain software vendors pulled in fresh funding rounds to expand store footprints and digital trade across Southeast Asia and India. Mumbai grab-and-go chain Abcoffee doubled its network to more than 100 locations over the past year, serving 350,000 cups monthly before securing $6.4 million in pre-series B capital led by Kliff Ventures in May.

    Singapore supply chain platform Baskit raised $4.4 million in April in a series A round led by Cento Ventures, taking its total financing to $10 million. The company provides real-time order tracking, digital payments and credit tools to distributors, expanding from Indonesia into the Philippines this year.

    Indian discount brokerage Aaritya Broking secured $33 million in April through a series B round led by Accel India for its stock trading app Sahi. The platform charges 10 rupees per trade and has recorded more than 5 million downloads.

    Automation spreads to transport and operations

    Specialized mobility and infrastructure service firms also drew institutional capital. Melbourne autonomous vehicle developer Applied Electric Vehicles raised $40 million in January from Japan Post Capital and the Australian government’s National Reconstruction Fund to deploy driverless utility vehicles in mining and freight sites.

    Malaysian roadside assistance and battery provider Bateriku built a network of 1,000 mechanics and 2,000 repair shops across 270 locations before raising $7.4 million from pension fund KWAP and state-backed investors. In Thailand, maintenance provider 24 Solution Group closed $8 million across series B and B+ rounds after expanding from handyman services into electric vehicle charging systems and commercial solar installations.

    Venture investors in the region have shifted capital toward businesses with established commercial revenue, favoring workflow software and physical distribution infrastructure over cash-burning consumer acquisition models. RetailNews Asia tracks this transition as regional store operators increasingly buy software from local business-to-business specialists rather than building internal systems from scratch.

    Attention now shifts to the trial pipelines and regional market entries scheduled before the end of 2026, including Hong Kong biotechnology firm AIM Pharmaceutical International’s phase one clinical trials in mainland China for its Parkinson’s therapy.

  • Over Half of Southeast Asian Retailers Remain Stuck in AI Pilots

    Over Half of Southeast Asian Retailers Remain Stuck in AI Pilots

    More than 56 percent of consumer goods and retail companies across Southeast Asia remain trapped in continuous testing, unable to scale artificial intelligence into commercial production.

    While 8 percent of enterprises in the region have fully deployed AI initiatives compared to a 6 percent global average, retail operators lag behind banking and technology peers.

    Why Models Fail at the Border

    Across global retail, nearly 75 percent of AI projects fail to reach production deployment. Poor data quality accounts for roughly 85 percent of those collapses, compounded by the region’s mix of modern supermarkets, social commerce platforms, and traditional corner stores.

    A demand forecasting algorithm tuned on clean transaction records in Singapore often breaks down when deployed across Indonesian point-of-sale systems or Vietnamese wholesale networks. Without standardized data definitions across borders, multi-market rollouts stall before delivering operational cost cuts.

    Another 73 percent of failed retail AI programs lacked quantifiable performance metrics before launch. Broad mandates to improve customer personalization frequently dissolve without hard targets, such as cutting category stockouts by 4.5 percent across secondary regional logistics hubs.

    Regulatory Divergence and Vendor Risks

    Multi-market operators now run AI workloads across separate cloud platforms to mitigate operational outages. More than a third of large enterprises deploy five or more models in production, driven by concerns that single-vendor disruptions could halt real-time pricing and automated purchase orders across physical storefronts.

    Singapore and Vietnam have introduced comprehensive risk-based AI regulatory frameworks, while neighboring markets develop separate data residency rules. Retailers operating across Jakarta, Bangkok, and Manila face distinct local sovereignty laws that penalize centralized data models.

    For regional retail groups that expanded through rapid store acquisitions over the past decade, technical fragmentation creates the same operational drag that previously hobbled centralized enterprise resource planning rollouts. Successful operators are shifting away from standalone software pilots, requiring field managers to redesign replenishment and supply workflows around automated tools before approving cross-border rollouts.

    Regulatory compliance deadlines in Singapore and expanding data sovereignty enforcement in Jakarta will test whether multi-market retailers can maintain cross-border automated pricing and inventory pipelines through 2027.

  • Southeast Asian EV Startups Secure $622 Million Across 16 Top Firms

    Southeast Asian EV Startups Secure $622 Million Across 16 Top Firms

    The top 16 electric vehicle startups across Singapore, Indonesia, Thailand, and Vietnam have secured a combined US$622 million in equity funding, according to data from market tracker Tracxn.

    Singapore accounts for eight of the 16 funded ventures, serving as the primary financing and corporate headquarters base for regional operators despite its small domestic auto market.

    Fleet economics replace consumer car models

    Unlike Western and Chinese markets focused on passenger sedans, Southeast Asia’s electrification drive centers on commercial utility. The region’s core demand runs through two-wheelers used for daily commuting, courier runs, and food delivery logistics, alongside electric ferries and light commercial trucks.

    This operational split shifts capital allocation away from traditional high-speed charging corridors. Startups are directing resources into battery swapping networks, commercial fleet management software, and durable battery packs designed for high-mileage delivery work.

    Major venture funds and automotive strategists have backed the sector at Series A and Series B stages. Backers include Peak XV Partners, Jungle Ventures, GSR Ventures, Horizons Ventures, and Indian two-wheeler manufacturer TVS Motor Company.

    Industrial roles divide across four markets

    Manufacturing and market operations follow national industrial strengths across the four economies. Indonesia uses its nickel reserves to build battery and vehicle assembly operations, Thailand relies on its established automotive supply chain, and Vietnam provides growing domestic consumer demand.

    For regional retailers and delivery operators, the transition hinges on total cost of ownership rather than government subsidies. Fleet buyers across Jakarta, Bangkok, and Ho Chi Minh City require verified battery lifespans and reliable swap stations before replacing combustion fleets at scale.

    The next operational test for these 16 startups centers on contract renewal rates as initial pilot programs conclude without promotional pricing support.

  • Chinese Startups Show AI and Robotics Advances at Beijing Expos

    Chinese Startups Show AI and Robotics Advances at Beijing Expos

    Chinese artificial intelligence and robotics startups are pushing forward with public offerings, demonstrating advanced ‘robot bodies’ and ‘AI brains’ at recent industry events in Beijing. The World Robot Conference, held last Wednesday, featured various practical applications, including kickboxing robots and machines serving ice cream, as companies seek to boost investor confidence.

    Robotics on Display

    One notable participant was Shenzhen-based AI2 Robotics, which presented its AlphaBot. This robot, powered by the company’s proprietary foundation AI model, showed its ability to serve ice cream to visitors. Such demonstrations highlight the growing practical capabilities of AI in consumer-facing roles and potentially retail automation. The event serves as a platform for these startups to prove their real-world viability and attract further investment ahead of potential initial public offerings.

    The push for public listings reflects a broader trend among Chinese tech firms aiming to capitalize on investor interest in advanced technologies. The retail sector in Asia Pacific, in particular, stands to gain from these innovations, as robotics and AI offer solutions for everything from automated warehousing and last-mile delivery to in-store customer service and personalized marketing. RetailNews Asia has observed increasing adoption of similar technologies across the region, from automated checkout systems in Singapore to robotic warehouse solutions in Japan, indicating a growing readiness among businesses to integrate these advancements.

    The Race for Public Funding

    The urgency to go public underscores the competitive market within China’s robotics and AI industry. Companies are eager to secure capital for further research and development, as well as to scale their operations. The technologies on display, while diverse in application, all point towards a future where intelligent automation plays a more significant role across various industries. This includes potential applications for enhancing efficiency and customer experience within the retail and consumer technology sectors across Asia.

  • South Korea’s Startup Boom: How Flexible Digital Regulations Could Unleash a ₩2.4 Trillion Venture Capital Upsurge

    South Korea’s Startup Boom: How Flexible Digital Regulations Could Unleash a ₩2.4 Trillion Venture Capital Upsurge

    South Korea has the potential to draw an extra ₩2.4 trillion in yearly venture capital investment and launch numerous additional startups if it were to adopt more favorable digital regulations, a recent study conducted by Oxford Economics for Digital Prosperity Asia (DPA) suggests.

    The study claims that while digital regulations are vital to ensuring trust, security, and consumer protection, growing compliance requirements are exerting additional pressure on startups. This burden impacts their innovation capabilities, their potential to raise capital, and their ability to scale their businesses.

    Statistical modeling by Oxford Economics suggests that a more lenient regulatory framework from 2026 to 2035 could escalate the annual startup formation by nearly 15 percent, which translates to about 240 additional startups per year. It could also support around 21,000 startup jobs by 2035. In contrast, a tighter regulatory atmosphere could decrease startup formation by 8 percent and diminish annual venture capital investment by an estimated ₩1.3 trillion.

    Despite South Korea boasting one of the most robust startup ecosystems in Asia, the research indicates that regulatory design is increasingly becoming a crucial factor in future growth. While regulation is critical to building trust and safeguarding consumers, the economic implications are considerable. A more conducive regulatory environment could stimulate increased startup formation, lure more investment, and aid job creation over the coming decade, thereby ensuring South Korea maintains its status as a premier destination for digital innovation.

    The research was based on a survey of 500 participants in South Korea’s startup ecosystem, reinforced by expert interviews and economic modeling.

    The Increasing Cost of Compliance

    The study posits that compliance has shifted from a regulatory obligation to a significant business cost for many startups. The survey reveals that 86 percent of South Korean startups believe that digital regulation imposes operational constraints, with almost a quarter describing the impact as major or severe. Over 75 percent allocate more than 5 percent of their operating costs to compliance, with 44 percent spending above 15 percent of their operating expenses on meeting regulatory requirements.

    Nearly 80 percent of startups reported restructuring their operations to comply with digital rules, including adopting compliant cloud infrastructure, implementing new compliance processes, and leaning more on external legal and advisory services.

    The report also suggests that regulatory requirements are increasingly channeling resources away from innovation. Approximately 77 percent of startups reported that digital regulations had affected their capacity for innovation, while 58 percent had to redirect financial resources from research and development towards compliance. Almost half stated that regulatory obligations had caused delays in product launches or extended time-to-market.

    Investor Worries

    The study further reveals that digital regulations also impact fundraising. Half of the startups surveyed indicated that digital regulations create uncertainty about investment returns, thereby complicating the process of raising capital. Among venture capital investors, 58 percent claimed that regulatory requirements make expected returns less predictable. Half of them indicated that they would lessen their exposure to higher-risk startups if regulations became stricter.

    The study emphasizes the necessity of ensuring that regulatory frameworks are risk-based, proportionate, and practical, taking into account businesses of various sizes and stages. It concludes that the design of digital regulation will play an increasingly influential role in determining South Korea’s competitiveness as one of Asia’s premier technology and innovation hubs, particularly as policymakers aim to strike a balance between consumer protection and economic growth and investment.

    Questions & Answers

    What is the potential impact of more enabling digital regulations in South Korea?
    A more enabling regulatory environment could boost the annual startup formation by nearly 15 percent, equating to about 240 additional startups per year, and could support about 21,000 startup jobs by 2035.

    How are regulatory requirements affecting startups in South Korea?
    Regulatory requirements place operational constraints on startups, with compliance now representing a significant business cost. These obligations are increasingly diverting resources away from innovation and leading to delays in product launches or extended time-to-market.

    How do digital regulations impact fundraising for startups?
    Digital regulations create uncertainty around investment returns, making it more difficult for startups to raise capital. Regulatory requirements also make expected returns less predictable, causing some investors to reduce their exposure to higher-risk startups.

  • GoTo Sees Second Quarter of Profit, Fueled by Fintech Boom

    GoTo Sees Second Quarter of Profit, Fueled by Fintech Boom

    Indonesia’s leading ride-hailing company, GoTo, announced its second successive quarterly net profit on Wednesday. The positive financial outcome was underpinned by significant expansion in its fintech sector and continued fiscal prudence.

    For the quarter ending June 30, the firm posted earnings of 350 billion rupiah (US$19.40 million). This marks a significant turnaround from the same period last year, which saw a loss of 297 billion rupiah. GoTo’s second quarter net revenues amounted to 5.7 trillion rupiah, reflecting a year-on-year increase of 31%.

    Fintech Outperforms On-Demand Services

    The adjusted EBITDA of GoTo’s fintech operation, GoPay, experienced an impressive growth of over five times to reach 481 billion rupiah in the quarter. Intriguingly, this is the first time it has surpassed the company’s on-demand services, Gojek.

    GoTo also noted the potential impact of Indonesia’s cap on ride-hailing commissions, which came into effect on July 1. The cap is anticipated to affect Gojek’s two-wheel ride-hailing services – contributing to approximately 7% of its total net revenue – and could potentially impact third quarter earnings.

    Despite this, GoTo maintains its full-year adjusted EBITDA prediction of between 3.2 trillion rupiah and 3.4 trillion rupiah. This projection anticipates a reduced contribution from its on-demand services and a greater contribution from its fintech operations.

    GoTo’s first-half attributable profit was 607 billion rupiah, in contrast to a loss of 50 billion rupiah in the previous year.

    Sustained Profitability Through Cost Discipline

    The company attributes its sustained profitability to disciplined cost management, which was first flagged in the previous quarter. This approach has been effective in tandem with the implementation of its technology and AI strategy.

    Questions & Answers

    What contributed to GoTo’s second successive quarterly net profit?
    The profit was mainly aided by strong growth in its fintech business, GoPay, and a commitment to cost control.

    How has the introduction of a cap on ride-hailing commissions in Indonesia affected GoTo?
    The cap, which came into effect on July 1, might potentially impact GoTo’s third quarter earnings, as it affects Gojek’s two-wheel ride-hailing business.

    What is GoTo’s full-year adjusted EBITDA forecast?
    The company expects its full-year adjusted EBITDA to be between 3.2 trillion rupiah and 3.4 trillion rupiah, with a decreased contribution from on-demand services and a larger one from fintech.

  • Gojek Co-Founder Sentenced to Decade Behind Bars, Stirs Investor Anxiety Amid Corruption Scandal

    Gojek Co-Founder Sentenced to Decade Behind Bars, Stirs Investor Anxiety Amid Corruption Scandal

    Nadiem Makarim, a co-founder of tech giant Gojek and former education minister, has been found guilty of some charges in a corruption case by an Indonesian court and sentenced to ten years in prison. Makarim, aged 41, has contested the charges, declaring that the case against him is politically driven, an opinion that has garnered support from scholars and rights activists.

    The Potential Impact on Investor Confidence

    This verdict could potentially further weaken investor confidence in Indonesia. The nation’s currency, the rupiah, and stocks have seen a downturn this year following cuts to projections by credit rating agencies due to erratic policy decisions and governance worries. Additionally, the index provider MSCI is considering downgrading Southeast Asia’s largest economy due to concerns over market transparency.

    Makarim was accused of profiting from the government’s decision to purchase Google Chromebook laptops for Indonesian schools during his tenure as education minister from 2019 to 2024 under the former administration of Joko Widodo. This decision allegedly resulted in state losses amounting to US$125 million.

    Details of the Verdict

    Delivering the ruling at Indonesia’s Corruption Court in Jakarta, Chief Judge Purwanto Abdullah declared that a panel of judges had found Makarim guilty of misusing his authority and causing state losses. However, Makarim was acquitted of the charge of directly seeking personal enrichment.

    Makarim was ordered to pay a fine of 1 billion rupiah and return over 800 billion rupiah (US$45 million), an amount the judges determined was personal gain from the deal. Failure to return the money would add an additional five years to his prison term, the judges said.

    Surrounded by his family and friends, a tearful Makarim expressed his intention to appeal the verdict. He claimed the facts supporting the sentence were unreasonable, adding that he couldn’t meet the payment amount ordered by the court.

    Prosecutors alleged that Gojek’s parent company’s investment from Google influenced the procurement decision. They also claimed that Makarim created tender specifications that only matched the Chrome system, making Google the sole controller of the educational environment in Indonesia.

    Google, however, wasn’t indicted. Makarim has refuted these allegations, stating there was no personal enrichment, and the investment from Google in Gojek’s parent company had no relation to the procurement.

    Questions & Answers

    What were the charges against Nadiem Makarim?
    Makarim, former education minister and co-founder of Gojek, was found guilty of abusing his authority and causing state losses.

    What are the potential ramifications of this ruling on Indonesia’s economy?
    This ruling may further weaken investor confidence in Indonesia, exacerbating existing concerns over unpredictable policymaking, governance issues, and market transparency.

    What was the penalty imposed on Makarim by the court?
    Makarim was sentenced to ten years in prison and ordered to pay a 1 billion rupiah fine. He was also directed to return over 800 billion rupiah, an amount the judges said he personally gained from the deal.

  • Grab and GoTo Yield to Pressure: Slash Driver Commissions in Indonesia

    Grab and GoTo Yield to Pressure: Slash Driver Commissions in Indonesia

    Indonesia’s GoTo, a ride-hailing and food delivery company, alongside Singapore-based Grab, announced they will reduce the per-trip commissions for their two-wheeled driver partners in Indonesia. Beginning July 1, the commission rate will be slashed from 20% to 8%.

    Implementation of Reduced Commissions

    Indonesia’s President, Prabowo Subianto, first brought up the idea of an 8% cap on commissions in his speech on May 1. However, he did not provide details regarding when this initiative would be implemented.

    GoTo’s VP Director, Catherine Hindra Sutjahyo, expressed the company’s support for the initiative at a press conference. “We support the efforts to continue increasing the prosperity of the drivers,” she stated.

    Neneng Goenadi, Grab Indonesia’s CEO, echoed Sutjahyo’s sentiments. Both leaders confirmed that their respective companies will start applying the new 8% commission rate from July 1.

    Impact on Ride-Hailing Platforms

    This development was first reported in January, with concerns raised about its potential effect on the profitability of ride-hailing platforms, particularly in Southeast Asia, which serves as their largest market.

    Cucun Ahmad Syamsurijal, the Deputy Parliament Speaker, lauded the reduced commissions as a testament to President Prabowo’s administration’s commitment to supporting all ride-hailing drivers in the country.

    Questions & Answers

    **What is the new commission rate for two-wheeled drivers for GoTo and Grab in Indonesia?**
    The new commission rate is 8%, reduced from the previous rate of 20%.

    **When will the new commission rate take effect?**
    The new commission rate will be implemented starting July 1.

    **What potential impact could this reduction have on ride-hailing platforms?**
    The reduction could potentially affect the profitability of ride-hailing platforms, particularly in Southeast Asia, their largest market.

  • Delivery Hero Initiates CEO Successor Hunt as Niklas Ostberg Announces Resignation

    Delivery Hero Initiates CEO Successor Hunt as Niklas Ostberg Announces Resignation

    Niklas Ostberg, the founder and CEO of Delivery Hero, is set to step down from his leadership role after a notable 15-year tenure at the helm of the global food delivery enterprise. As a result, the company has launched a search to find a suitable successor to fill Ostberg’s shoes.

    Ostberg will continue to manage the operations and lead the team until his successor is officially appointed, with the deadline for this set for March 31st of next year. The transition is likely to be finalized by the end of the year, ensuring a smooth transfer of responsibilities.

    Delivery Hero: Entering a New Era

    According to the company, this succession plan comes just as Delivery Hero is on the brink of stepping into a new phase that’s characterized by strategic development and a renewed focus on operations.

    Ostberg feels confident that this transition comes at an appropriate time. He stated, “This is the right moment to begin handing the company over to its next chapter.” He elaborated on the company’s future direction, pointing out the strategic review announced in December, which has paved the way for deeper market penetration, increased customer engagement, and enhancements to the consumer offering under the Everyday App strategy.

    Founded in 2011, Delivery Hero has grown to operate in over 60 markets worldwide, with multiple brands, including Foodpanda, Glovo, and Talabat under its umbrella.

    In a significant development earlier this year, Grab agreed to purchase Delivery Hero’s Foodpanda delivery business in Taiwan for a whopping US$600 million in cash. This marks the first major expansion of the Singapore-based super app beyond the boundaries of Southeast Asia.

    Questions & Answers

    Who is expected to replace Niklas Ostberg as CEO of Delivery Hero?
    A replacement for Niklas Ostberg has not been announced as yet. The company is currently in the process of finding a suitable successor.

    What is the future strategy of Delivery Hero as announced in their December review?
    The future strategy of Delivery Hero includes penetrating deeper into their markets, increasing customer touchpoints, and improving the consumer offering under the Everyday App strategy.

    What is the significance of Grab’s acquisition of Delivery Hero’s Foodpanda in Taiwan?
    Grab’s acquisition of Foodpanda in Taiwan marks the first major expansion of the Singapore-based super app beyond Southeast Asia. This could potentially lead to further expansion and growth for Grab in the future.

  • Grab Powers Through 2026 with Record Q1 Results and Bold Expansion Beyond Southeast Asia

    Grab Powers Through 2026 with Record Q1 Results and Bold Expansion Beyond Southeast Asia

    Southeast Asian superapp, Grab, has reported its strongest first quarter to date, with plans to expand beyond its home market for the first time. It plans to do so with an investment of $600 million.

    Grab’s CEO and co-founder, Anthony Tan, expressed his satisfaction with the results, stating that the company achieved its objective of starting 2026 robustly. Grab recorded a revenue of US$955 million for the first quarter, which ended on March 31, representing a year-on-year increase of 24%. Its adjusted EBITDA reached US$154 million, up by 46% from the same period in the previous year, marking the company’s seventeenth consecutive quarter of EBITDA growth.

    Despite the period being typically quiet due to the Ramadan fasting month and Lunar New Year celebrations, the company managed to increase its number of monthly transacting users by 16% to 51.6 million.

    Growth Across Segments

    The overall gross merchandise value of Grab’s deliveries and mobility segments rose to US$6.1 billion in the quarter, with the delivery sector growing by 25% and mobility by 23%, year-on-year. The company’s financial services also observed a 43% leap in revenue to US$107 million.

    However, the company faces operational challenges due to the regional surge in fuel prices—an issue with no straightforward solution for a business model that depends on daily refuelling by millions of driver-partners. To navigate this issue, Grab launched various initiatives in March, including multi-partner fuel discount programs and restructuring incentive models to maximize driver earnings. Grab also collaborated with governments to ensure driver-partners could access available transport-worker fuel subsidies.

    Recently, Grab became the first platform to offer point-to-point cross-border taxi services between Singapore and Malaysia, one of the world’s busiest international land border crossings.

    Expansion Plans

    During the quarter, Grab agreed to acquire Delivery Hero’s foodpanda delivery business in Taiwan for US$600 million in cash. This represents Grab’s first expansion beyond Southeast Asia in its 14-year history. The acquisition is expected to be finalised in the second half of the year, expanding Grab’s presence across 21 cities. Upon completion, Grab would hold a market share of just over 50%, positioning it as a formidable competitor to Uber Eats.

    Moving forward, Grab’s full-year guidance remains unchanged, with predictions of 20% to 22% growth in revenue and 40% to 44% growth in adjusted EBITDA. The company expects in-demand GMV growth in each remaining quarter of this year.

    Questions & Answers

    What is Grab’s first quarter revenue for 2026?
    Grab reported a revenue of US$955 million for the first quarter of 2026.

    What operational challenges is Grab facing?
    Grab is facing operational challenges due to the regional surge in fuel prices affecting millions of its driver-partners.

    What is Grab’s expansion plan?
    Grab plans to acquire Delivery Hero’s foodpanda delivery business in Taiwan, marking its first expansion beyond Southeast Asia.

  • Grab Acquires Foodpanda Taiwan in $600M Deal: A Bold Leap in Global Expansion Strategy

    Grab Acquires Foodpanda Taiwan in $600M Deal: A Bold Leap in Global Expansion Strategy

    In an ambitious move towards global expansion, Grab, Southeast Asia’s leading ride-hailing and delivery company, has announced its first venture beyond its home territory. The Singapore-based firm will acquire the Taiwan branch of Delivery Hero’s Foodpanda service in a cash transaction amounting to $600 million.

    Acquiring a Strong Foothold in Taiwan

    By acquiring Foodpanda Taiwan, Grab gains a significant operational presence outside of Southeast Asia. This acquisition is seen as a strategic part of Grab’s broader expansion plan, which is primarily focused on artificial intelligence, introducing new services, and making selective overseas deals.

    Grab’s group CEO and co-founder, Anthony Tan, believes that the company’s vast experience in the Southeast Asian market will be a perfect match for the Taiwanese market. “This is a natural next step for Grab,” he said.

    Deal Details and Future Prospects

    The expected completion of the deal, which is subject to regulatory approval and other closing conditions, is slated for the latter half of 2026. The venture is anticipated to contribute at least $60 million in incremental adjusted core earnings (EBITDA) by 2028.

    In Taiwan, Foodpanda generated around $1.8 billion in gross merchandise value in 2025 and was profitable before Delivery Hero group cost allocations.

    Earlier this year, it was reported that Grab has set targets for its revenue growth, aiming for more than 20% annually over the next three years. The company also plans to triple its EBITDA to $1.5 billion by 2028.

    Grab also reaffirmed its 2026 adjusted EBITDA guidance of $700 million to $720 million. The acquisition is projected to enhance its 2026 group revenue forecast, which currently stands between $4.04 billion and $4.10 billion.

    The company plans to complete the migration of users, merchants, and drivers to the Grab application by early 2027.

    Delivery Hero’s Strategic Move

    The CEO of Delivery Hero, Niklas Oestberg, stated that the sale of the Taiwan branch is a crucial first step in reviewing the group’s activities strategically. The proceeds from the deal will be used to pay off the company’s debts.

    Despite facing criticism from shareholders, most notably Aspex Management, for the company’s perceived slow progress in strategic review and a near one-third decrease in share value, Delivery Hero’s shares rose nearly 11% following the announcement of the deal.

    Aspex Management released a statement saying that while divesting assets is a positive step, more needs to be done for Delivery Hero to regain trust from capital markets, particularly as it continues to accumulate regulatory fines and inefficiently manage capital.

    Questions & Answers

    What will be the value of the acquisition deal between Grab and Foodpanda Taiwan?
    Grab will pay $600 million in cash to acquire Foodpanda Taiwan.

    When is Grab expected to complete the migration of users, merchants, and drivers to its app?
    The migration process is expected to be completed by early 2027.

    What will be the use of the proceeds from the sale of Foodpanda Taiwan?
    Delivery Hero plans to use the proceeds from the sale to repay its debts.

  • Former Uber Executive Ascends to the Helm of Gojek Singapore: Janine Teo Steps in as New General Manager

    Former Uber Executive Ascends to the Helm of Gojek Singapore: Janine Teo Steps in as New General Manager

    Gojek Singapore, a leading ride-hailing platform, has made significant changes to its top leadership, appointing Janine Teo as its new General Manager. Teo is succeeding Lien Choong Luen, who decided to step down in February after steering the company for seven fruitful years.

    Teo is not new to Gojek; she has held multiple operational leadership positions within the company for over seven years. The company is confident in her capabilities to drive its business forward, thanks to her extensive experience. Teo’s main focus will be to continue enhancing Gojek’s platform, ensuring it remains a reliable tool that supports driver-partners and their livelihoods, and delivers dependable services to Singaporean consumers.

    Before her recent promotion, Teo held various roles, including Country Lead of Driver Experience and Operations Manager at Uber, where she served from 2017 to 2018. Later, she became the Head of Supply in Singapore at GoTo Group, the technology group overseeing Gojek, starting from 2020.

    Lien Choong Luen’s Departure

    Reflecting on his tenure, Lien has remarked that he had the privilege of witnessing the maturation of the ride-hailing industry during an especially intense period characterized by increased competition and stricter regulations.

    Navigating the challenges presented by the Covid-19 pandemic, including supporting drivers amid a sharp decrease in demand, was one of the significant hurdles that the company had to overcome under his leadership.

    Lien has shared that he plans to take a sabbatical and dedicate more time to his board roles, serving as the President of Singapore Athletics being one. Additionally, he is exploring fresh opportunities in the technology sector while catching up on the regional developments.

    After seven years at the helm of Gojek Singapore, with the business in a robust position, the company believes that it was an opportune moment for Lien to exit the role and follow his personal interests.

    Questions & Answers

    Who has been appointed as the new General Manager of Gojek Singapore?
    Janine Teo is the new General Manager of Gojek Singapore.

    What was Janine Teo’s position prior to her promotion?
    Teo previously held the position of Head of Supply in Singapore at GoTo Group, the technology group that oversees Gojek.

    Why did Lien Choong Luen step down from his role at Gojek Singapore?
    Lien decided to step down from his role at Gojek Singapore to focus on his personal interests, including his board roles and exploring opportunities in the technology sector.