Ride Hailing Company Grab Acquires Bento to Move into Wealth Management

Grab is a well known ride-hailing app in Singapore; now they are acquiring Bento, a wealth management startup; they plan to rebrand Bento to GrabInvest and launch products before mid year; products will be available to users, driver-partners and merchant partners; Philip Chew, head of investments and new businesses of Grab Financial Group noted, “Now, from within Grab’s everyday app, we will build on our fintech capabilities to transform what is currently an underserved retail wealth sector in Southeast Asia to one that is powered by a 24/7 user engagement platform and best-in-class financial models, portfolio management and risk management technologies.” Finextra

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