This deal will be funded from the USD 700 million Grab has promised to invest in Indonesia over the next four years, businessinsider.com reports.
Kudo offers online transactions for Indonesian consumers and it targets consumers with no bank accounts and in small towns and cities, helping them to make purchases online through its agents.
Grab teamed up in 2016 with Indonesian conglomerate Lippo Group to roll out a mobile payment platform. Under the partnership, customers can use the Grab application to make payments at Lippos retail outlets across the country.
Grab raised USD 750 million in a funding round in September 2016.
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