Grab eyes Ant Financial funding in quest to dominate SEA's financial services market

Grab eyes Ant Financial funding in quest to dominate SEA's financial services market

Ride-hailing and payments major Grab is in talks with Alibaba Group Holding Ltd affiliate Ant Financial to raise funding for its financial services unit, DEALSTREETASIA has learnt.

The discussions are related to a potential investment by Ant Financial in Grab Financial Group and not in the holding company, an industry source aware of the development said. Any funding secured as a result may not be part of Grab’s ongoing Series H round, for which it is seeking to raise $5 billion. It has so far amassed $4.5 billion in that round.

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