Grab Financial, the business unit of Grab’s payments, rewards and broader financial services, is raising up to $300 million to prepare the brand to run independently, executives close the matter have informed FinanceAsia.
It is not clear at this stage if the $300 million funding will be sourced from outside investment, a cash injection from Grab or a mixture of both. A spokeswoman for Grab Financial declined to comment on the news.
The news comes on the coattails of regional rival Gojek just completing $1.2 billion fundraising for its expansion, according to Bloomberg. The proceeds will be used, in large part, to take on...
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