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Grab-backed digital bank lends to GrabCar rental partner
Aside from Grab, Superbank is backed by local conglomerate Emtek Group and Singapore-based telecommunication company Singtel.
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Vehicles pass a billboard showing an advertisement for GrabCar on a street in Denpasar, Bali, in April 2016. (thejakartapost.com/Ni Komang Erviani)
S
uper Bank Indonesia (Superbank), a digital bank backed by local conglomerate Emtek Group, Southeast Asian superapp Grab and Singapore-based telecommunication company Singtel, has provided a credit facility of an undisclosed amount to PT Teknologi Pengangkutan Indonesia (TPI).
TPI is a car rental company that has leased thousands of vehicles to GrabCar drivers across the country. Superbank said TPI would use the loans to purchase more than 1,000 additional cars that could be rented by GrabCar drivers.
"The deal with TPI is the beginning of a long-term partnership between Superbank and its ecosystem partners. We hope this initiative can open more opportunities for Grab's driver-partners to reap the benefits of our financing," Superbank chief business officer Sukiwan said in a statement on Tuesday.
Meanwhile, TPI's chief operating officer Yusa Oktavia said Grab's driver-partners were part of the underbanked population in the country, and the partnership could help them increase their income.
On its website, Grab Indonesia explains that drivers who do not have cars of their own can still become GrabCar partners by using a service called GrabRental. They would only be charged a daily rental fee, without having to cover regular maintenance costs and insurance expenses.
The service is currently available in Greater Jakarta, Bandung, Medan, Makassar and Surabaya.
Aside from cars, a rental service is also available for electric motorcycles, Grab notes on its website.
