Grab, one of the biggest ride-hailing firms in Southeast Asia, tivaling even Uber Technologies Inc, announced that it has launched services in Phnom Penh, Cambodia. This expansion will put Phnom Penh as the eighth country under Grab’s belt.
Headquartered in Singapore, Grab said it signed a memorandum of understanding with Cambodia’s Ministry of Public Works and Transportation to support infrastructure development.
This launch will mark the latest in development of the quick-moving industry, coming up just three months after Uber began its services. The World Bank ranks this as the sixth-fastest expanding economy.
Grab secured $700 million in debt financing last October to expand its reach and signed a partnership with Singapore public transport operayor SMRT.
More recently, ComfortDelGro Copr Ltd, a taxi form in Singapore, bought 51% of Uber-owned car rental business Lion City Holdings.
Before the ride-hailing service launched in Phnom Penh, buses and taxis as well as unmarked, unmetered taxi for hotels and tourists were included in the services. Motorcycle taxis and auto-rickshaws, also known as tuk-tuks, were also popular.
Uber’s Asia-Pacific head of coporate and product communicarions, Chris Brummitt declined to comment on Grab’s Cambodian launch.