Dublin-headquartered credit reporting firm Experian said it is investing in Grab’s ongoing Series H funding round. The terms of the deal and amount invested were not disclosed.
The deal with Experian came in just a week after Grab raised USD 300 million from US-headquartered investment firm Invesco, also as part of Grab’s Series H funding round.
Grab said earlier that it aims to close its Series H by the end of 2019 with USD 6.5 billion. The latest capital injection puts Grab on track to meet this target.
The statement said the strategic partnership will allow both to utilize technologies and data analytics to sharpen the way Grab customizes its offerings for its users in Southeast Asia.
“We want to transform the way consumers and businesses seek out financial products and services. This partnership with Grab, alongside our existing investments in the region, helps to build on our promise of matching the demand and supply of financial access to all consumers and businesses, driving greater financial inclusion,” Ben Elliott, the CEO of Experian Asia Pacific, said in the official statement.
Grab recently unveiled Grab Financial as it seeks to become the super app of the region. Grab is also reportedly eyeing a digital banking license in Singapore to strengthen its position as a regional financial services provider.