Nham24 and Grab Cambodia announced the completion of a deal for the latter to acquire Nham24’s operations in Cambodia. The December 30 announcement followed regulatory approval from the Competition Commission of Cambodia.
Nham24 is a much-loved, homegrown Cambodian brand, having grown rapidly since its launch in 2016 to become one of Cambodia’s most successful tech startups.
A joint statement from the two companies highlighted how the deal will bring Nham24’s rich local expertise together with Grab’s leading technology capabilities, particularly in AI, with the aim of fostering greater innovation in the Cambodian market that will benefit local users and everyday entrepreneurs.
Borima Chann, CEO and Founder of Nham24, explained the importance of the deal.
“This is an immensely significant milestone for a locally-born startup like Nham24, and I’m glad we found a partner with whom we share the same, unwavering commitment to delivering solutions that enrich the lives of every community we serve. We’ve always believed our success stemmed from serving the needs of Cambodians through innovation and exceptional service, and the merger will give us the ability to draw on Grab’s strengths in tech and deep R&D capabilities to take this to new heights,” he said.
“I am so thankful to our entire Nham24 team, our delivery and merchant partners as well as our loyal users for their support throughout the years. Together with Grab, we look forward to bringing you better and better experiences,” he added.
Sovannarot Kang (Mike), Grab Country Head of Cambodia, shared his excitement at the new acquisition.
“Grab is excited to deepen our investment into Cambodia, and eager to play a greater role in supporting digital economy growth and sustainable livelihoods for Cambodians. This partnership is forged on shared values. We have deep respect for all that Nham24 has achieved, and are committed to preserving and building on the high quality standards they are loved for,” he noted.
“Grab’s advantage as a regional superapp is our ability to invest in tech and innovation at scale. We intend to harness those abilities to bring greater affordability and convenience to users, higher productivity for drivers and more inclusive growth for small businesses,” he added.
Enhancing everyday experiences through technology
The statement explained that combining the two businesses aims to drive sustainable, long-term growth for on-demand services like food delivery, grocery delivery and ride-hailing in Cambodia, creating more opportunities for everyday entrepreneurs.
It also noted that merchants will benefit from Grab’s investments into a suite of AI-powered solutions. This will make them more efficient and help to grow their businesses.
“The food and beverage industry is always evolving and consumer behaviours are always changing. So we need access to better tools and data to make sure we can stay ahead of the trends and capture the growth opportunities. Having been an Nham24 partner for many years, I think this development will be good for my business and for the industry,” suggested Oknha Khorn Chhundara, a Director of Borvor Group, which oversees popular brands like KOI Thé, TUBE Coffee, KYŌ Omakase and GĒGĒ HotPot.
“We can get access to a bigger consumer base and also the latest technologies. I am looking forward to this partnership and I am confident with Grab and Nham24 together, many businesses like ours will grow more,” he continued.
The joint statement explained that the combination of the two will produce a higher concentration of orders, meaning drivers and delivery partners will have more earning opportunities.
“Better batching – allowing delivery riders to pick up multiple orders at once – will translate to more affordable solutions for consumers,” was one example it offered.
“Together with Grab’s commitment to constantly improving its tech, access to a joint pool of merchant-partners and delivery-partners also means the best range of choices at all budget points for consumers when it comes to food delivery, and a better user experience through faster allocations and more reliable fulfilment,” it added.
To ensure a smooth transition, both Grab and Nham24 apps will continue to operate independently for the foreseeable future. Users can continue to place orders through both apps, with merchants and drivers continuing to receive and fulfil orders through each platform.
“For Nham24 merchants and riders who wish to join the Grab platform, Grab is building a customized on-boarding process to facilitate an easy and seamless transition, with dedicated support teams to provide assistance if needed. For Nham24 merchants that are new to Grab, Grab will onboard them at a commission rate matched to their current commission tier with Nham24. For merchants whose current commission tier with Nham24 is higher than Grab’s standard commission tier, they will be onboarded at Grab’s lower commission rate. Grab also plans to offer new-to-Grab merchants with free ad credits and other services to help them kickstart their business on Grab,” it explained.
For Nham24 riders that are new to Grab, Grab will recognize and match their performance tiers at Grab. Grab will also offer subsidised Grab gear and free insurance. To ensure they get the most out of the Grab ecosystem, Nham24 riders will get access to GrabAcademy to access various upskilling programs.
