SG60 Tech Special Services | HardwareZone Singapore

HardwareZone celebrates Singapore’s 60th birthday with a series of articles showcasing local tech brands that have helped build our nation and put us on the world stage. Some of these brands have become household names, while others lesser known but no less innovative. You might even be surprised to learn of some popular technologies that got its start right here in Singapore.

(This article is one of 7 parts in our SG60 Tech Special series.)

In this article, we look at technology platforms home-grown in Singapore, which didn’t just digitise existing services, but ended up creating entirely new habits, expectations, and lifestyles that would have been unimaginable just a short decade ago. The companies profiled in this report share a common DNA, despite their diverse fields. They were all founded by visionaries who identified a specific, real-world problem, whether from unsafe taxi rides or commoditising next-day delivery for the masses, while leveraging technology to solve it.

The collective success of these technology companies is a validation of Singapore’s strategic vision and consistent investment in digital infrastructure, talent development, and an innovation-lead ecosystem.

1. Grab

Founded by Harvard Business School classmates Anthony Tan and Tan Hooi Ling with just US$25,000 in 2012, Grab evolved from MyTeksi taxi-booking service to Southeast Asia’s first super-app, fundamentally changing how 187 million Southeast Asians navigate daily life. Before Grab, Singaporeans had to endure crazy taxi queues at the CBD during peak hours, with rides even harder to get if it was raining. Yes, one could try calling the taxi hotlines to secure a ride, but during peak hours, you were not the only one clogging up the phone lines. Today, the phrase “just Grab lah” has entered Singlish vocabulary, with  at least 41% of the Singapore population hailing rides and ordering food with the app on the regular.

This shift in behaviour extends beyond just getting a ride. When was the last time you hailed a cab while on the street? Cashless payments at hawker stalls are now normal (in fact, I barely have any actual cash on me for most of the week), while a widespread dependency on food delivery that has made the old “dabao” (takeaway) walk a thing of the past. For better or for worse, the days of the taxi uncle not knowing the way to a particular destination are also gone, replaced by the certainty of GPS navigation.

Today, Grab is now a Bonafide ecosystem, offering services from food delivery (GrabFood) and courier services (GrabExpress) to digital payments (GrabPay) and digital banking (GrabFin).

Key Events:

• 2015: Launched GrabExpress, its courier service, signalling the beginning of its diversification beyond ride-hailing.
• 2017: Launched GrabPay, a mobile payment system, laying the groundwork for its financial services arm.
• 2018: Acquired rival Uber’s Southeast Asia business, a defining moment that consolidated its market leadership and accelerated its superapp strategy.
• December 2021: Made its public debut on Nasdaq following a record-breaking SPAC merger, raising a total of US$4.5 billion and putting Southeast Asia on the global financial map.
• May 2022: Acquired digital banking licenses and launched its digital bank, GrabFin, in Singapore, Malaysia, and Indonesia, furthering its push into financial empowerment.
• May 2025: Launches first Artificial Intelligence Centre of Excellence with Support from Digital Industry Singapore
• July 2025: Pilots autonomous shuttle bus in Singapore, serving Grab employees between Grab’s one-north headquarters and the one-north MRT station.

2. Carousell

Founded in Singapore on May 14, 2012, by three university friends, Quek Siu Rui, Lucas Ngoo, and Marcus Tan, Carousell revolutionized second-hand commerce through its mobile-first marketplace that simplified buying and selling used goods through the exceedingly simple “snap, list, sell” process that eliminated many of the traditional barriers that faced second-hand selling. The first item sold on the platform was an Amazon Kindle e-reader for S$75.

Today, Carousell has further deepened its presence in the luxury and fashion resale segments as well as growing its logistics capabilities. In 2024, they acquired LuxLexicon, a high-end luxury handbag resale and consignment platform, while launching an online store. It also expanded its REFASH business into Hong Kong with four physical outlets. Last year, Carousell partnered with SingPost to offer sellers the ability to drop off their parcels at POPStation and POPStop locations via Carousell Official Delivery. Sellers are also able to conveniently print shipping labels for free at POPStations. SingPost’s tracked letterbox service was also made available as one of the delivery options on Carousell. Sellers can drop off these items at any post box, POPStation and POPStop locations. 

Carousell’s recent 2024 Year in Secondhand Insights for Singapore reveals some interesting titbits:

1. With an average of S$2,000 in earnings, Singaporean users made the most in the region by selling second-hand items on Carousell this year —about 70% more than their Hong Kong counterparts and 140% more than users in Malaysia.

2. Singapore tops the region in generosity, with over 300,000 free items given away, including popular items like sofas and IKEA tables.

3. Singapore leads the region in second-hand furniture transactions, saving 21,970 tonnes of carbon emissions.

Key Events:

• 2013: Secured its first investment and collaborated with Singapore Press Holdings’ ST Classifieds, to create a mobile app called SheShops Marketplace, selling fashion and beauty items.
• 2016: Acquired Caarly, a mobile-first used car marketplace, and raised a US$35 million Series B funding round.
• May 2018: Raised $85 million Series C funding.
• June 2018: Carousell announced a partnership with DBS Holdings, Stripe and VISA, to launch CarouPay, a mobile payment service. 
• November 2019: Merged with Telenor’s 701Search to creates a regional leader in online classifieds across 8 markets in Southeast Asia, Hong Kong, and Taiwan.
• September 2021: Announced that it had raised US$100 million in a round of funding led by South Korean private equity firm STIC Investments, bringing its valuation to US$1.1 billion, achieving unicorn status.
• 2024: Rolled out a suite of new features, including a shopping cart, one-click checkout, and tracked shipping via a partnership with Ninja Van, bringing an e-commerce experience to re-commerce.

3. PropertyGuru

PropertyGuru is a technology company that has become a cornerstone of the Singaporean real estate landscape. Its platform has fundamentally changed how people search for homes, making the process more transparent and accessible for millions of property seekers each month. Before PropertyGuru, finding a home often meant scouring newspaper classifieds or relying heavily on a network of agents. The company’s digital platform, which offers a vast database of listings, detailed neighbourhood insights, and market reports, has digitized this journey, empowering consumers to make more informed decisions.

PropertyGuru was founded in 2007 by Steve Melhuish and Jani Rautiainen, with the platform connecting over 41 million property seekers with over 63,000 agents monthly to find their dream home, with more than 3.2 million real-estate listings across Singapore, Malaysia, Thailand, Indonesia, and Vietnam. PropertyGuru went public on the NYSE in 2022 under the ticker “PGRU”; and was eventually acquired by EQT for $1.1 billion, with the acquisition completed by late December 2024, marking its transition to private ownership.

Key Events:

• 2018: Raised a US$145 million Series D funding round.
• 2019: Launches PropertyGuru Lens, an augmented reality feature that turns a smartphone camera into a real-world search tool.
• March 2022: Made its public debut on the NYSE under the ticker “PGRU” after a SPAC merger, giving the combined entity an equity value of US$1.6 billion.
• 2023: Acquired by the Swedish private equity firm EQT for US$1.1 billion; the acquisition was completed in late December 2024.

4. ShopBack

Ask any shopping enthusiast, and it is likely that ShopBack is part of their arsenal to the best deals and maximum cash back. Founded in Singapore in 2014 by Henry Chan and Joel Leong, the company began with a simple idea born in a car: to devise a smarter way to shop by localizing the popular U.S. cashback model for Southeast Asia. The founders initially invested $15,000 each and worked from a hotel room to create their first prototype. ShopBack has successfully evolved from a simple cashback website to a comprehensive shopping, rewards, and payments platform that facilitates more than half a million transactions every day, as well as connecting more than 50 million shoppers with over 20,000 merchants across 13 markets globally.

Cash back is not just about saving a few dollars but is also another way of engaging with commerce. If anything, ShopBack has capitalized on the desire for “small wins,” integrating features like quests and streaks to make saving money an engaging and enjoyable experience, and more so when combined with the thrill of landing a good deal. By offering a way to earn cashback on everyday purchases, from food and fashion to travel and groceries, we see ShopBack as having has cemented its role into the psyche of the everyday Singaporean, turning price-consciousness into a gamified activity.

Key Events:

• 2015-2016: Expanded into Malaysia, the Philippines, and Indonesia.
• 2018: Began offering in-store cashback and expanded to Australia.
• 2021: Acquired Hoolah, a buy now pay later (BNPL) provider.
• 2022: Launched ShopBack Pay and ShopBack PayLater and completed a global brand refresh.
• 2023: Expanded into the European market with its launch in Germany.
• 2024: Celebrated its 10th anniversary and expanded its services to New Zealand.
• July 2025: Secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), in a marked shift beyond rewards and into regulated digital payment services through ShopBack Pay.

5. Ninja Van

Founded in Singapore in 2014 by friends Lai Chang Wen, Boxian Tan, and Shaun Chong, the company was born out of a simple need to support their own fashion line. Today, Ninja Van has become a cornerstone of e-commerce in Southeast Asia by tackling one of the industry’s most persistent challenges: last-mile logistics. The company has evolved from a small-scale operation into a full-fledged, technology-enabled logistics powerhouse, leveraging innovative software and tools to provide smart, end-to-end solutions for businesses and individuals alike.

Ninja Van’s success is rooted in its tech-driven approach, which includes real-time data insights, AI-enabled automation, and secure parcel sorting to boost the speed and accuracy of deliveries. This focus on technology was a direct response to a new kind of consumer behaviour that emerged with the e-commerce boom, particularly during the COVID-19 pandemic. Consumers developed an obsessive parcel-tracking behaviour and an expectation for rapid delivery, often demanding, “Tomorrow or forget it.” This new normal was further reinforced by contactless delivery preferences that became normalized during the pandemic, fundamentally changing the interaction between delivery riders and consumers.

The company have experienced some struggles of late, announcing a few rounds of job cuts plus a reduction in their valuation in the latest funding round.

Key Events:

• 2016: Raised a US$30 million Series B funding round to build a regional logistics network.
• 2017: Raised at least US$87 million in its Series C funding.
• 2019: Grab makes a strategic investment into Ninja Van, for an undisclosed amount. As part of the strategic partnership, Grab will also integrate Ninja Van’s services into its mobile app via GrabExpress, Grab’s on-demand parcel and courier delivery service.
• 2020: Landed an undisclosed Secured US$279 million in its Series D funding.
• 2021: Achieved unicorn status after raising US$578 million in its Series E funding round, led by Alibaba Group.