Singapore-based company plans over 20% annual revenue growth, expanding groceries and fintech while investing heavily in AI efficiency tools regionally.

Grab, a Singapore-based super app, is doubling down on AI and expanding into online groceries and financial services, with a goal of tripling profits by 2028.

According to Alex Hungate, president and COO, the company wants to increase revenue by over 20 percent a year over the next 3 years and raise EBITDA from the previous year to 1.5 billion dollars by 2028. In an interview at the company's Singapore headquarters, he described the plan.

The action coincides with a transition in Southeast Asia's ride-hailing industry from rapid, subsidy based growth to a stronger focus on profitability. With AI optimized super applications that combine finance, food delivery, grocery and mobility services, companies are attempting to optimize returns while dealing with increased operating costs.

14 years after its founding and despite billions of dollars in funding, Grab, which is listed on the Nasdaq, announced its first full-year net profit for 2025 earlier this month. However, Wall Street was not satisfied with its 2026 sales and adjusted EBITDA projections, which caused company shares to drop over 15 percent this year. In contrast, Lyft has decreased by 31 percent and Uber has decreased by 11 percent during the same time frame.

Huatai Securities analysts warned that increased spending on AI research and collaborations for autonomous cars could have a negative impact on profits. Risks, including decreased user growth and more general macroeconomic volatility, were also addressed.

Grab aims to increase efficiency across its core app and delivery network to reach its 2028 goals. The company claims it can package services at a reduced incremental cost with regular user interaction. By using user data to underwrite loans more accurately than traditional banks, it is also growing its financial product line.

Hungate stressed that reinvesting in its native markets is still the top goal, even though Grab has made some initial moves outside of Southeast Asia, such as purchasing a share in the American wealth platform Stash. Also, the company looks into proprietary AI agents for merchants and drivers, preferring to develop its own systems over connecting recognized chatbots.