Acquisition of Bento enables Grab to bring retail wealth management and investment solutions to its ecosystem of users, driver-partners, and merchant-partners
Grab announced the acquisition of Bento Invest, allowing Grab to offer more solutions to users, driver-partners, and merchant-partners, within its app.
Due to the acquisition, Bento will be rebranded as GrabInvest with products launched on the Grab app in the first half of 2020.
GrabInvest aims to democratize access to retail wealth management products. This way, people across Southeast Asia would get the opportunity to save and invest in financial products, traditionally limited to affluent individuals and institutional investors.
What is more, GrabInvest plans to adopt a low-cost model, allowing users to transact on a platform they are familiar with. It’s transparent due to having full disclosures on fees with zero hidden elements.