Grab expands to Taiwan, its first non-Southeast Asian market, with $600 million Foodpanda deal

Grab will acquire Foodpanda’s Taiwan business for $600 million, in the superapp’s first foray outside Southeast Asia. The Singapore-based company signed a deal with Foodpanda parent Delivery Hero just one year after Uber abandoned its bid to buy the Taiwanese platform, citing regulatory pushback.

The acquisition is set to complete by the second half of 2026, and Grab plans to fully migrate all users, merchants and drivers to its platform by early 2027. 

“This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market,” said Grab CEO Anthony Tan, in a press statement on Monday. “Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan.”

Analysts call the deal a timely move for Grab, with Maybank Securities analyst Hussaini Saifee describing it as “a compelling new growth leg” for the Southeast Asian company given Taiwan’s robust economy.

The expansion also vindicates Grab’s business model, which has dominated Southeast Asia’s ride-hailing and food-delivery market for close........

© Fortune