Grab, a leading ridesharing company has announced the acquisition of Singapore-based robo-advisory start-up Bento Invest Pte Ltd (Bento). The acquisition will help Grab offer retail wealth management solutions to its driver-partners and merchant-partners. After completion of the deal, Bento will be rebranded as GrabInvest.
GrabInvest will be a new core business of Grab Financial Group, a financial services arm of the Grab Holdings. GrabInvest will simplify access to retail wealth management products, across Southeast Asia, with the opportunity to save and invest in financial products limited to affluent individuals and institutional investors.
The major investments and deals by Grab are mentioned below:
- January 2020: Grabs food delivery unit, GrabFood unveiled a merchant platform that will provide tools for F&B merchant-partners to expand their businesses. It also announced the first GrabKitchen in Singapore with over 10 F&B brands, including three virtual restaurants and the latest GrabFood Hub. GrabFood also opened its first cloud kitchen in Singapore to better serve users.
- September 2019: Grab collaborated with HEINEKEN, an international brewer, to expand its business in the region. The agreement will enable HEINEKEN opportunity to tap on Grabs mobility, food, delivery, and payment services across its platform to better meet its last-mile logistics needs, and drive demand for HEINEKEN beers and ciders in Southeast Asia. Through this partnership deal, HEINEKEN will be able to boost its sales and distribution channels in Southeast Asia. Grab brand partners & merchants can gain seamless access to Grabs wide user base, customer insights, payment, and on-demand courier services, and technology infrastructure, and integrate them into their operations to grow their business.
- July 2019: Grab announced that it will invest US$2 billion into Indonesia over a period of five years with the capital invested by SoftBank. The new capital will accelerate the development of the digital infrastructure in the country. The investment will create a next-generation transportation network for cities and digitization of crucial services like healthcare and infrastructure. The company will also launch affordable e-healthcare services in the country.
Grab, is a Southeast Asias leading super app, headquartered in Singapore. It is one of the leading on-demand transportation and mobile payments platform in Southeast Asia . The companys product platform provides transport solutions for drivers and passengers with an emphasis on convenience, safety, and reliability. The company also provides mobile payments platform, GrabPay, to mobile payment solutions for millions of Grab riders and drivers across Southeast Asia. Grab currently offers services in around 65 cities across Singapore, Thailand, Indonesia, Philippines, Malaysia, Vietnam, and Myanmar.