Ride-hailing behemoth Grab raises even more money

Feb 25, 2020 - Fortune

My God, Grab has a lot of money.

The Singapore-based ride-hailing startup raised more than $856 million from strategic Japanese investors including Mitsubishi UFJ Financial Group (MUFG) and TIS. 

The money will come as two separate capital infusions. First, MUFG, which is the largest bank in Japan, will invest $706 million into Grab to co-develop financial products. MUFG will also get “First Choice Bank” status, which means that Grab can use its financial services when it needs ...