Grab acquires robo-advisory startup to upgrade its current capabilities

Friday 7 February 2020 13:47 CET | News

Grab has announced the acquisition of Bento Invest, a robo-advisory startup, to offer retail wealth management and investment solutions to users, driver-partners, and merchant-partners.

As part of the deal, Bento will be rebranded as GrabInvest, a new core business under Grab’s financial services arm, Grab Financial Group. Grab Financial’s current offerings include GrabPay, GrabRewards, GrabFinance, and GrabInsure.

GrabInvest is set to launch products on the Grab app in the first half of 2020, with Singapore as its first market. It will operate under the Monetary Authority of Singapore’s Retail Licensed Fund Management Company license.

Founded in 2016, Bento offers a platform built for banks, wealth managers, and brokers to urge clients to invest regularly. Its proprietary digital wealth platform includes client onboarding and portfolio construction and rebalancing, supported by robust risk management capabilities.

Financial details of the deal were not disclosed.

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Keywords: Grab, Bento, acquisition, super app
Categories: Payments & Commerce
Countries: Singapore
This article is part of category

Payments & Commerce