SINGAPORE: South-East Asian ride hailer Grab is raising US$706mil from Mitsubishi UFJ Financial Group Inc (MUFG) and US$150mil from Japanese IT services firm TIS Inc, as it seeks to expand aggressively into financial services.
“MUFG’s investment into Grab is a vote of confidence in our super app strategy and our ability to build a long-term, sustainable business, ” Ming Maa, Grab’s president, said in a statement.
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