Largest Bank in Japan Invests $700 Million in Grab

Mitsubishi UFJ Financial Group is investing over $700 million into the ride hailing company Grab; along with the investment the bank plans to market their financial products to Grab users; Grab is backed by SoftBank and has focused on building an app that offers much more than just rides; their app has been downloaded to 166 million devices; Grab is looking to raise additional funds as they continue to offer more services but has already raised $2.6 billion from SoftBank alone. Payments Source

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