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Singapore ride-hailing firm to acquire Indonesian payment startup

Singapore-based ride-hailing service Grab agreed to acquire Kudo, an Indonesian online payment startup firm.

Grab said it will integrate the Kudo team and platform with its own proprietary mobile payments platform, GrabPay. Grab did not disclose the deal value.

Kudo is an online-to-offline e-commerce platform that allows Indonesian consumers to shop online through its network of more than 400,000 authorized agents across the country.

Grab said it plans to leverage Kudo's network to bring in more riders, drivers and GrabPay users. The company will also explore opportunities to grow Kudo's financial services offerings.