Grab ride-hailing app secures $300 million for fintech app

Anne Freer | January 7, 2021

App Business

Grab, the ride-hailing and food delivery firm based in Southeast Asia, has raised more than $300 million in a funding led by South Korea’s Hannah Asset Management.

The firm, back by SoftBank and Uber, is estimated to be worth $15 billion.

It plans to drive the expansion of its financial services using the latest cash injection.

The fundraiser has not be publicly announced, according to The Information.

Grab Financial Group offers a range of financial services, including insurance, making payments and investments.

It acquired a license to launch a digital bank with Singtel in Singapore for 2022.

Business Insider reports that the company secured support from Citi for consumer lending. The two companies previously partnered in 2016.

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