Grab raises US$850mil to expand Into financial services

Grab, South-East Asia’s most valuable startup, raised more than US$850mil from Japan’s Mitsubishi UFJ Financial Group Inc. and TIS Inc. to bankroll its expansion into financial services in the region. - Reuters

SINGAPORE: Grab, South-East Asia’s most valuable startup, raised more than US$850mil from Japan’s Mitsubishi UFJ Financial Group Inc. and TIS Inc. to bankroll its expansion into financial services in the region.

The sum includes US$706mil from MUFG, Japan’s largest bank, and US$150mil /from TIS, a provider of data centre and cloud services, according to joint statements from the companies.