HomeNewsGrab is raising $856 million from Mitsubishi UFJ Financial Group, and TIS Inc

Grab is raising $856 million from Mitsubishi UFJ Financial Group, and TIS Inc

Reader's Pick

Singapore based ride-hailing startup Grab on Tuesday said that “It is raising $706 million from Mitsubishi UFJ Financial Group Inc (MUFG), and $150 million from Japan-based IT service provider TIS Inc.”

In a statement issued on Tuesday, Grab said, “The company will use the new round fund to expand its presence in the lending business, insurance and wealth management products and services for Southeast Asian consumers and small and medium-sized medium.”

Speaking on the fundraise, Ming Maa, President at Grab, said, “MUFG’s investment in Grab is a trust shown in our super app strategy, and in our ability to build a long-term, sustainable business.”

“Together with MUFG, we look forward to playing an important role in driving financial inclusion in Southeast Asia and by offering greater and affordable access to financial products and services to millions across the region,” he said.

- Advertisement -

Hironori Kamezawa, Deputy President MUFG, said, “MUFG has been developing business in Southeast Asia by building a platform centered on our banks.”

“We are excited to be able to provide customers with next-generation financial services by enabling Grab’s technology and data management expertise with our financial experience,” he said.

Subscribe to our Newsletters

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Paytm Payouts transfers Rs 1,500 crores

India-based e-wallet company, PayTM said, "Its Paytm Payouts has transferred ov...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Rajesh Bysani joins Brainly as its new CPO

A New York headquarter peer-to-peer learning platform, Brainly has announced th...

Leveraging EdTech to create an Inclusive Education Model

It's not just the educationists who are thinking about education. Leaders in ev...

Google joins Progcap $40 million funding round

Progcap, a New Delhi-based fintech platform for small and mid-size businesses (...

Three Wheels United, Eqaro partners with Log9 Materials for affordable EV financing

Three Wheels United (TWU), a global fintech company for EV financing, has colla...