Grab raises USD 850 mln from MUFG, TIS to boost fintech

Wednesday 26 February 2020 11:37 CET | News

Ridesharing, food delivery and fintech app Grab, based in Southeast Asia, has raised USD 850 mln in funding.

The funding series was backed by two major Japanese investors, Mitsubishi UFJ Financial Group and TIS. MUFG will invest USD 706 million into Grab, and the two companies will co-develop products and services to help address the needs of Grab customers, drivers and merchant-partners.

TIS, which is a unit of TIS Intec Group, will invest USD 150 million. The companies will collaborate on enhancing the digital payments infrastructure in the region as well as Japan to enable greater adoption of cashless payments.

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Keywords: Grab, MUGF, TIS, funding round, Southeast Asia, Singapore, Japan, ridesharing, food delivery, fintech app
Categories: Payments & Commerce
Countries: Singapore, South East Asia
This article is part of category

Payments & Commerce