Herbert Smith Freehills' leading Asia TMT team has advised ecommerce unicorn Grab on an online insurance joint venture with Zhongan Insurance.
The alliance is the latest market expansion for Grab. Established in 2012 as a ride-hailing platform, it now offers food, parcel and grocery deliveries, financial services and content across eight southeast Asian countries. Grab has also signalled that it will expand into cross-border remittances and online healthcare this year.
"We're delighted to have advised Grab on another major expansion," said Asia Head of TMT Mark Robinson.
"We've worked for Grab and for its funders since its earliest days, and it's been a pleasure to watch the company grow from an app into a Southeast Asian business champion."
Mark led the team advising Grab, assisted by partner Hilary Lau, senior associates Victor Chiew and Peggy Chow, and associate Su Wai Nang.