The banking group is providing the funding as part of a collaboration deal that will involve it building a financial services app with Grab.

Financial services group Mitsubishi UFJ is investing up to ¥80bn ($714m) in Grab, the Singapore-based ride hailing and financial technology platform already backed by a host of corporates, Nikkei reported yesterday. Formerly known as GrabTaxi, Grab operates an on-demand ride service spanning more than 500 towns and cities across Southeast Asia. It has diversified into…

The rest of this content is only accessible to Global Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.

Robert Lavine

Robert Lavine is special features editor for Global Venturing.