Grab in talks with Prudential, AIA for $300-500m investment
Reuters reports Southeast Asia’s Grab is in advanced talks with Prudential PLC, AIA Group Ltd and others as it seeks $300 million to $500 million in investment for its financial services unit.
Grab, which evolved from ride-hailing app operator to one-stop shop for services as varied as food delivery and insurance, aims to reach agreements as early as October.
Grab Financial Group is likely to enter the funding with a pre-money valuation of $ 2 billion, with insurers taking up about half of the total funding under discussion.
Grab, Prudential and AIA declined to comment.
