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Grab takes stake in Indonesian investment platform Bareksa, deepens Ovo integration
Bareksa will gain access to Grab’s users and offer mutual fund investments with payments handled by Ovo.
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Ovo
The move helps Grab comply with regulation governing local ownership.
Ovo was seen by some as the most complicated moving part in the GoTo merger.
Grab reportedly bought a 4% stake in Indonesia’s conglomerate Emtek, which has strategic interests in e-commerce and payments.
The joint venture will support the rise of insurance aggregators and marketplaces, says Ovo.
Alibaba is reportedly planning to inject USD 3 billion into Grab, which would make it its largest venture in Southeast Asia.