"Mr. Zhang, in fact, I made it very clear when Mr. Lei came over last time.

Grab is not short of development funds at present, and it will not rashly disrupt our financing rhythm.

We expect to start the Series E financing in August, so you might as well wait a few more months!"

In Grab's large and bright conference room, Chen Bingyao was talking to Zhang Yida in English.

He is Malaysian-Chinese, but he doesn't speak Mandarin and speaks Hokkien, and Zhang Yida can't understand it, so he simply communicates in English.

Through the huge floor-to-ceiling windows of the conference room, you can see the endless coastline along the coast of Singapore, and Zhang Yida is also thinking in his heart: how to play this move in Southeast Asia?

Chen Bingyao is a person, Zhang Yida only talked to him for a few minutes, and he can see that he is a person with a strong desire to control and a strong sense of purpose.

Once you have made up your mind, you will not change it.

"Mr. Zhang, for China's Ruixiang Fintech Group, we at Grab have always had an attitude of admiration and learning.

We also set up an R&D center in Beijing, China this year. Even if we can't negotiate financing, we can cooperate in many areas. ”

Chen Huiling, the co-founder of Grab, who spoke, was much more tactful than Chen Bingyao.

Ruixiang Group is more than 10 times larger than Grab, and even in China, it is a well-known company.

In the field of Internet finance, in addition to Leech Financial Services, they are counted.

This kind of company, if you can make good friends, you must naturally make good friends.

Zhang Yida has also heard about Grab's establishment of a R&D center in Beijing.

This is the first Internet company in Southeast Asia to open its branch in Beijing, which is indeed a bit eye-catching.

As for the purpose, it is not difficult to guess: one is to enjoy the dividends of Chinese engineers, and the second is to absorb Chinese talents and the Internet model to help Grab complete the localization of Southeast Asia.

At present, Grab has completed the promotion and layout of ride-hailing software in many countries in Southeast Asia, and has gradually turned its attention to the fields of food delivery, express delivery, grocery delivery, online payment and financial services.

This trick is also learned from Chinese companies, and it is determined to become a super APP.

A super app provides users with a variety of Internet services, and at the same time, it also gathers traffic and feeds back various businesses.

"When I heard that Grab launched its own electronic GrabPay, this step was really predictable.

I also expect e-wallets to be the next entrepreneurial outlet in the Southeast Asian internet market.

In addition to mobile payment, I judge that there are huge opportunities in various financial segments such as Internet funds, Internet insurance, online wealth management, and consumer credit.

If Grab is interested in cooperating with Ruixiang, Ruixiang can transplant all these services to Southeast Asia.

GrabPay is only guarding a mobile payment, which is weak, and there are local competitors in Southeast Asia, and the giants may also enter in the future.

Spinning off Grab to develop and become a large financial holding company, I think it should be more suitable for the fierce competitive environment that we will face next. ”

Zhang Yida's words are sincere, he just wants to promote Grab to split the e-wallet, independent financing, and independent development.

R.Pay is a move, plus Grab.Pay, and Air.Pay, which has a stake in the Sea Group and indirectly holds shares, the larger e-wallet companies in Southeast Asia are all in the urn.

Chen Bingyao shook his head and said:

"Mr. Zhang, I'm afraid you don't know much about the situation of the Internet market in Southeast Asia, in addition to e-wallets, the sub-sectors such as funds, insurance, lending, and wealth management that you mentioned are currently difficult to carry out business landing.

Southeast Asia is 11 countries with a population of 650 million, and the development of each country is very uneven, including the economy, politics, and cultural customs.

In China, where the Internet infrastructure is in place, a good idea can be valued at tens of billions of dollars and hundreds of millions of users in two or three years.

But in Southeast Asia, you can only push it one country at a time, and you have to deal with the government agencies of each country.

Some countries have local protectionism that allows you to enter and develop your business, and the market can only be occupied by their local companies.

In addition, when entering the markets of different countries and carrying out corresponding financial business, it is also necessary to follow local regulatory policies.

Regulatory authorities in some countries or regions will also put forward strict license entry thresholds.

I said so much, which means that we have to base ourselves on the present, first do a good job in mobile payment, and then talk about other things.

I know that Ruixiang Group has achieved remarkable results in various financial segments in China.

But the region is different, this is Southeast Asia, and a lot of Chinese models don't work when they arrive.

It's hard to succeed without localization. ”

"That being said, there's always a good idea to lay out ahead. ”

Zhang Yida still agrees with Chen Bingyao's words, the Southeast Asian market looks like a hot land for entrepreneurship, but there are also many pits, without three or five years of persistent cultivation, the harvest is not to think about it.

In his previous life, Zenda was acquired by Ahri and injected several more funds, and a total of billions of dollars were invested in Southeast Asia.

Revenue is rolling up, but profitability is still far away.

If we want to develop in Southeast Asia, we must be prepared to fight a protracted war.

"China's domestic Internet dividend has peaked, and Ahri and Penguin, Goudong, and Qiandu will slowly turn their attention to the Southeast Asian market.

In addition, many small Chinese startups are already gearing up to go global.

Grab layout in advance, make plans in advance, and can also seize some more markets.

If Mr. Chen doesn't approve of me, then listen to it as a joke!"

Zhang Yida was also a little impatient, he came all the way from China to invest in you, sent you money, sent technology, and you pushed me out.

I'm in a hurry, and I will fully support R.Pay and Air.Pay to fight you in the ring.

In the future, Air.Pay, the e-wallet company of Sea Group, will also be split and upgraded into an independent financial group, which will carry out more financial business and open up financing.

If GrabPay doesn't let itself take a stake, it saves the money and invests it in Air.Pay.

Chen Bingyao is also weighing the gains and losses, Grab's most important business at the moment is taxis, then takeaways, and then the turn of e-wallets.

At present, GrabPay is a chicken rib, with one or two million users.

Do you want to take it out and give it to Ruixiang Group?

After the joint venture, Grab can obtain abundant development funds and technology to carry out more and richer financial business.

At the same time, all the money saved by the group can be smashed into the taxi and takeaway business, and the burden can be reduced a lot.

But what if you split your e-wallet and lose control?

Listening to Zhang Yida's tone, China's giant companies are all coming to promote e-wallets.

WeChat Pay and Alibei are not good at stubble, backed by two parent groups with a market value of hundreds of billions of dollars, and they want money and technology.

"Mr. Zhang, GrabPay can be spun off and operated as a joint venture with Ruixiang Group.

But I have one condition, which is to implement the AB share model. ”

Chen Bingyao still made a decision and decided to cooperate with Ruixiang Group, but the control of the company had to be in his own hands.

"We're not a venture capital firm, we don't just give money, we have to give technology.

It's better for both sides to co-manage!

You hold 51% of the shares, we hold 49% of the shares. ”

Seeing that Chen Bingyao finally relented, Zhang Yida put forward his own conditions.

If you can't invest in Grab, it's not bad to get an e-wallet.

"It's too much, I give you up to 30% of the shares, and you have to exercise the AB share model. ”

Chen Bingyao is very close to control, and he knows that GrabPay is indispensable for spending money to become bigger and stronger.

If you don't engage in AB shares, the follow-up capital increase and share expansion will make it easy for the host and guest to be replaced, and Ruixiang has become the controlling shareholder.

Compared with money, even if you count your own family, you can't compare to Ruixiang Group.

After a long time, everyone took a step back, Chen Bingyao agreed to Ruixiang's request to account for 49% of the shares, and Zhang Yida also agreed to the other party's AB shares.

GrabPay made a price of US$50 million, and Grab, as the parent company, injected another US$1 million in cash, equivalent to US$51 million in the new company, accounting for 51% of the shares.

Ruixiang sent a technical team to Singapore and brought various fintech patents of Ruixiang Group, with a technology price of 20 million US dollars.

In addition, Ruixiang Group injected another $29 million in cash into GrabPay.

Ruixiang Technology Plus Cash invested a total of 49 million US dollars, accounting for 49% of the new company's shares.

After the e-wallet matter was negotiated, Zhang Yida became much closer to Chen Bingyao and Chen Huiling.

After exchanging views with each other about the policies and regulations of the Internet in their respective countries and their respective entrepreneurial experiences, Chen Huiling suddenly asked:

"Mr. Zhang, you also have a bike-sharing company in China, called Huimin Bicycle, right?"

"Ah...... yes, what's wrong?"

Zhang Yida was a little curious, how to talk about shared bicycles.

"Grab is an Internet company focusing on travel, has Mr. Zhang ever thought about letting Huimin Bicycle cooperate with us?

Let Huimin Bicycle go to sea and operate in Southeast Asia.

We Grab can set up a joint venture with Huimin Bicycle to set up a bike-sharing company, Ruixiang will provide technology and capital, and Grab will be responsible for localized operation. ”

Zhang Yida didn't know why this Chen Huiling fell in love with shared bicycles.

Cycling to the sea, in the previous life, FOF and Baimo did it, and the momentum was quite big, but the result was anticlimactic, and all of them collapsed overseas.

"Yes, let's do a pilot in Singapore first, and then promote it to other countries if the results are good. ”

Grab also launched its own bike-sharing brand in its previous life, but it was not particularly well-known.

Southeast Asia is not particularly suitable for the promotion of shared bicycles, but motorcycles are more suitable.

However, Zhang Yida did not refuse the kindness of others, and sharing bicycles going abroad is also conducive to the improvement of fame and value.

However, Zhang Yida will not lose money and make money, and some countries and regions that are not suitable for sharing bicycles are resolutely not entered.

Singapore is okay, a garden city, the quality of the people is not bad, and it should not destroy the bicycle.

In the previous life, the little yellow car entered Manchester, England, and 1,000 were put on the market, and it is said that they were all broken......

This is still a developed country, and when it comes to quality, it is not as good as China.

"Okay, let's set up a brand together and try 1,000 bikes in Singapore first. ”

Chen Huiling smiled, Zhang Yida's cheerfulness was a little unexpected to her.

After staying in Singapore for a few more days, hiring a team of accountants and lawyers, and implementing the joint venture e-wallet and joint venture bicycle sharing, Zhang Yida returned to China.

Zhang Yida went back alone, while Lan Lan and Lei Dongming continued to complete their trip to RB, South Korea and India as originally planned.