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Hi readers,
In 2015, when Reuben Lai first joined Grab, it seemed like the ride-hailing firm was just at the starting line, revving its engines and roaring to run its first lap.
Since then, the company has debuted on the public market and expanded into the super app we know today. Now, it runs several businesses, including Grab Financial, where Lai served as head of financial services.
Pushing the pedal to the metal, Grab – together with Singtel – launched digibank GXS, which seemed like the perfect destination for Lai. But now, he’s letting go of the throttle and stepping on the brakes a bit.
While he didn’t give a concrete reason for his exit, Lai appears to be gearing up for another race – one that focuses on climate change.
Greentech is one of the most exciting industries for me. I enjoy reading and writing about the topic, and I think advancements and novel solutions in the field cannot come soon enough.
For Lai, one door is closing and another one has opened. It would be interesting to see where he goes from here, and we’ll make sure to be along for the ride. I hope you’ll join us.
— Miguel Cordon, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. Grab digibank head Reuben Lai to exit post (Update)
In an internal email seen by Tech in Asia, Lai said his last work day at Grab will be on November 22.
2. ShopBack doubles revenue in FY 2021, trims operating losses
Apart from expanding into South Korea and Vietnam, the company also launched a new voucher feature in Singapore and Australia during the year.
3. QRIS, BI Fast propel banks’ fight against e-wallets in Indonesia
While e-wallets first popularized digital payments in the country, the new payment systems are spurring on demand for bank apps.
4. Hodlnaut assets hit by FTX debacle
Fallout from FTX’s solvency issues are being felt far and wide, even in Hodlnaut’s IJM proceedings.
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