Finance Breaking news Grab raises $300 million to grow fintech business last financial news

Breaking-Finance.Com - Singaporean ride-hailing app Grab has raised $300 million for its fast-expanding financial services unit.

Finance Breaking news Grab raises $300 million to grow fintech business last financial news

Breaking-Finance.Com - Singaporean ride-hailing app Grab has raised $300 million for its fast-expanding financial services unit.

Finance Breaking news Grab raises $300 million to grow fintech business last financial news
14 January 2021 - 11:45

Breaking-Finance.Com - Singaporean ride-hailing app Grab has raised $300 million for its fast-expanding financial services unit. The funding round - the first extenal financing for Grab Financial Group - was led by Hanwha, South Korea’s leading asset management company. Other investors in the round include K3 Ventures, GGV Capital, Arbor Ventures, and Flourish Ventures.With a foucs on the region's vast underbanked population, Grab's dedicated fintech unit posted a 40% increase in revenues for 2020, launching its first wealth management product and quadrupling users of its insurance distribution package.

. Reuben Lai, senior managing director, Grab Financial Group, comments: “We are at an inflection point in Southeast Asia, as the pandemic has accelerated the need for digital financial services that help us grow and protect our incomes.”Grab faces stiff competition in the region from direct rival GoJek, and tech giant Sea - another recipient of a Singaporean digital banking licence - which has just struck a deal to acquire Indonesian bank BKE. The latter group raised $3 billion in a recent stock offering that it said would be used for business expansion, with financial services firmly in its sights.

Source = Breaking-Finance.Com

Financial breaking news

This news 43 hits received.

Finance Breaking news Grab raises $300 million to grow fintech business last financial news


Finance Breaking news Grab raises $300 million to grow fintech business last financial news


Finance Breaking news Grab raises $300 million to grow fintech business last financial news


Finance Breaking news Grab raises $300 million to grow fintech business last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Finch Capital's Nomu Pay sweeps up Wirecard Apac assets last financial news
Finance Breaking news Finch Capital's Nomu Pay sweeps up...
Finance Breaking news ING splits board level responsibility for operations and technology last financial news
Finance Breaking news ING splits board level responsibility for...