Grab – Asia's Uber – knows customers and drivers so well it can vet them for loans
Southeast Asia's Uber-clone turned superapp, Grab, collects so much data about its customers and drivers that it can rate their suitability for a loan – and is already a significant lender to its drivers.
Investors were told that the company offers pre-approved personal loans to drivers, that 30 percent of drivers have an active loan, and those loans increase the gig employer's usage of the app by 13 percent. Hungate said Grab gains unique insights into individuals' behavior through"unconventional data" that reveals drivers' income streams, regularity and seasonality of sales, how hard drivers work, and safety records.
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