Grab nabs US$700M from Japan’s Mitsubishi UFJ Financial Group to bring financial services to users
Singapore-based ride-hailing startup Grab has announced that it has raised more than US$700 million from Japan’s bank, Mitsubishi UFJ Financial Group, as reported by Bloomberg. In total, Grab now has about US$9.8 billion in its dispense.
Mitsubishi UFJ Financial Group intends to integrate its financial services to Grab’s users.
Grab last raised an extensive Series H round in 2018 and 2019, worth US$1.5 billion investment from SoftBank Vision Fund. It was then followed by a US$300 million funding led by Invesco.