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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