Grab raises over $300M in Series A funding

During the pandemic, the usage of digital financial services grew in Southeast Asia

Grab funding

Grab raises over $300M in Series A funding. Source: shutterstock.com

Grab Financial Group, the fintech platform in Southeast Asia, has announced it has raised over $300 million in a Series A funding round led by Hanwha Asset Management. As to  other investors, they are K3 Ventures, GGV Capital, Arbor Ventures, and Flourish Ventures.

The Series A funding marks the next step in GFG’s growth as its total revenue increased over 40% in 2020 compared to 2019 amid significant developments. These involve high consumer adoption of new services: AutoInvest, its first retail asset management product, nearly doubled monthly users in December 2020.

The GFG will use the new funds to continue helping more people and SMEs. It will do this by further investing in cleverness and expanding its offerings in SEA with more convenient financial solutions.

We’ve reported that Grab announced the launch of financial products and services that will be launched under a ‘Thrive with Grab’ strategy.

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