VnExpress News The News Gateway of Vietnam
Ride-hailing firm Be Group has got a US$60-million credit line from Deutsche Bank as it seeks to expand in the Grab-dominated Vietnamese market.
The contract includes a provision to increase the loan amount to $100 million, Be Group said in a statement.
“This financing will facilitate Be Group’s ambition to becoming the number one on-demand multi-service consumer platform for Vietnamese users.”
Since launching in 2019, Be apps have been downloaded over 20 million times, and they currently service over 10 million transactions monthly.
Singapore-based Grab had a 75% ride-hailing market share in Vietnam in the first half of 2020, the latest period for which data is available, according to research firm Statista.
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