Fave’s team in Malaysia
Online-to-offline firms Grab and Fave today announced a strategic tie-up that will let them access each other’s user base. The goal: to accelerate both platforms’ growth across Southeast Asia.
Starting this week, Fave’s sales team will onboard merchants for GrabFood and GrabPay in Singapore and Malaysia.
Later in the month, it will integrate GrabPay as one of its payment options, along with credit and debit cards. This will allow Fave customers to spend their GrabPay balance on deals available on Fave’s site and at thousands of merchants in the firm’s network.
Fave, the region’s spiritual successor to Groupon, offers discounts and bookings to multiple offline categories like restaurants, beauty, wellness, fitness, and travel.
“We’ve always believed that in order for the region to go cashless, we would need a collaborative approach,” said Grab Financial senior managing director Reuben Lai in a statement.
For Fave, the partnership means its merchants will get additional traffic from Grab users.
The Grab app has been downloaded more than 110 million times in the region, while 3 million people have used Fave’s rewards and redeemed its deals, according to the latest data. Fave also claims to have driven US$100 million in revenue to “thousands” of retailers in Singapore, Malaysia, and Indonesia.
The duo is exploring more ways to collaborate, including integrating their rewards programs, and GrabPay’s QR code payments with Fave.
All this is being done through GrabPlatform, a suite of APIs that enables partners to access components of Grab’s technology like logistics and payments.
Fave recently raised a US$20 million series B round from Sequoia India, Venturra Capital, and SIG Asia Investment, among others.
Editing by Terence Lee and Eileen C. Ang
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