The fundraising, coming as the Covid-19 pandemic decimates the global economic outlook, underscores the potential for technology-led financial services as the bulk of retail transactions go digital.
At Grab and Indonesian rival Gojek, lockdowns have savaged the transport business but have sparked a boom in food delivery. "Finalising new funding during these times could also help Grab in its sales pitch for the Singapore banking licence," said one of the people.
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