Grab Financial Group raises USD 300 mln in Series A funding round

Friday 15 January 2021 13:28 CET | News

Grab Financial Group has announced that it has raised more than USD 300 million in a Series A funding round led by Hanwha Asset Management.

Other investors include K3 Ventures, GGV Capital, Arbor Ventures, and Flourish Ventures.

In 2020, Grab has raised USD 856 million from Mitsubishi UFJ Financial Group and TIS in February and USD 200 from Stic Investments in August.

According to TechCrunch, Grab Financial Group stated that its total revenues increased by over 40% in 2020, compared to 2019. This was driven by the consumer adoption of services like AutoInvest, an investment platform that allows users to invest small amounts of money at a time through the Grab app and insurance products.

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Keywords: Grab Financial Group, Singapore, Asia, funding round, Series A, investment, Hanwha Asset Management
Categories: Payments & Commerce
Countries: Singapore
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