Booking Holdings has sealed a strategic partnership with Grab, alongside an investment of US$200 million into the Singapore-based company, now a ride-hailing leader in South-east Asia.
With the partnership, Grab users will be able to book travel-related services powered by Booking and agoda for the first time, and pay using the GrabPay digital wallet.
Booking Holdings’ brands will also be able to offer Grab’s on-demand transport services through their apps.
The deal comes as Grab works to become a super app, having expanded beyond ride-hailing to digital payments and delivery solutions, and now travel services.
Ming Maa, president of Grab, said: “The online travel market in South-east Asia is set to nearly triple by 2025 and we see numerous synergies between travel and transportation that will allow us to capitalise on this huge opportunity.”
Furthermore, with Booking Holdings’ latest investment, Grab is now on track to raising US$3 billion after bagging over US$2 billion in its current round of financing.