Singapore-based ride-hailing unicorn Grab recently announced that it has appointed industry veteran Peter Oey as the company’s new Chief Financial Officer.
In his new role, Oey will helm Grab’s finance operations, treasury, tax, procurement, and real estate and facilities department, according to a statement.
Oey will be based in Singapore and report to co-founder and CEO Anthony Tan. He will also work directly with Grab president Ming Maa, who took over many responsibilities from Grab’s last CFO, Linda Hoglund, when she left in 2016. Grab said Maa will continue to lead its strategic business planning.
Prior to his appointment, Oey served as CFO at legaltech company LegalZoom. He also held the same position at US consumer internet business MyLife and has spent over 12 years at Activision Blizzard.
According to Grab, the appointment of its new CFO comes after a strong year for the company, where it’s seen its gross merchandise value double off the back of a strong performance in Indonesia. In addition, GrabFood saw its GMV grow by over 400% across the region, while GrabPay increased total payments volume by 170%, the company said.
Grab had recently announced that it raised a total of $856 million from Japanese investors Mitsubishi UFJ Financial Group and TIS INTEC, to grow its financial services and digital payments infrastructure.
For 2020, Grab said it will continue to drive cross-vertical usage up by expanding its financial services, growing its GrabMart and GrabAssistant businesses, and developing more business-to-business offerings for its merchants.
Company CEO Anthony Tan said, “Last year, we made tremendous progress in growing our food delivery, payments, and financial services business. The growth of these businesses gives us a good foundation for achieving long-term sustainable growth for our company. I’m excited to welcome Peter to the Grab family where his extensive experience scaling rapidly growing technology companies make him a valuable addition to our business.”
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