Grab, to assist fund further expansion of its growing like fire financial companies arm, raised $300 million in a Series A funding spherical final week. Grab supplies its users with payments and financial services throughout the lending, insurance coverage and retail wealth management area. Back in February 2020, Grab introduced it had raised $856 million in funding to develop its payment and monetary companies.
The former is reportedly seeking to claim stronger control over the possible merged business. A Nikkei Asia report claims that there has been a request for Anthony Tan, Grab’s Chief Executive Officer, to turn out to be the “CEO-for-Life” of the surviving business within the proposed merger with Gojek. Industry observers recommend that this new growth could mean that Grab Financial Group will separate from its parent company in light of the Grab-Gojek merger speculations. However, there have been no public talks that would affirm this possibility, not to mention particulars of a plan for an initial public offering . The company is seeing progress in use of its ExtraCash short-term loans, that are a substitute for overdrafts.
○ KL-listed tech firm Sedania has launched Assidq.com, the primary Islamic on-line market in the country, adopted by 50+ monetary institutions. ○ TikTok has partnered with freemium video streaming service supplier Iflix to deliver its short video content to Iflix’s 17m customers in 13 countries in SEA. ○ According to a press release by the government 300m hanwha asset management financialtimes, Softbank will make investments US$30-40bn in Indonesia’s new capital – and smart – city. ○ DBS has launched a QR code solution to digitize B2B cost collections for the F&B business – ~28k institutions – to permit immediate payments with automated accounts reconciliation, among others. ○ RealVantage has launched its real estate co-investment platform for offshore investment opportunities.
Change the plan you’ll roll onto at any time during your trial by visiting the “Settings & Account” section. As of press time, solely The Information has the most detailed reportage on it, citing a supply who is alleged to be educated concerning the transaction. Company representatives declined to answer inquiries from TechNode Global relating to stated speculations–the company has been mum on the reviews of its potential merger with Gojek. Biometric payment playing cards, contactless smart-rings and a virtual market created by Meta are among the many latest developments in payments know-how.
The submit Grab’s fintech arm GFG raises US$300M Series A with an aim to ‘close the monetary inclusion gap’ in SEA appeared first on e27. The Singapore-based app has began to move into monetary services because it seems to unseat traditional gamers in the region. Grab’s fintech division is targeting Southeast Asia’s underbanked population with a collection of monetary merchandise, spurred by a coveted Singapore banking license. The company’s current buyers similar to GGV Capital and K3 Ventures, a Singapore-based venture capital firm, additionally participated in the latest funding round. Southeast Asian fintech platform Grab Financial Group has secured funding of more than $300m in its Series A funding round to expand its fintech enterprise. We’ve reported that Grab announced the launch of monetary products and services that will be launched underneath a ‘Thrive with Grab’ technique.
Grab Financial Group , Southeast Asia ‘s main FinTech platform, yesterday introduced that it has raised over $300m in its Series A funding round, led by Hanwha Asset Management, South Korea’s main asset management firm. Grab Financial Group, the fintech platform in Southeast Asia, has introduced it has raised over $300 million in a Series A funding spherical led by Hanwha Asset Management. As to other traders, they are K3 Ventures, GGV Capital, Arbor Ventures, and Flourish Ventures.