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Deals Of The Day: The Latest In Wealth Management M&A - Grab, Bento Invest

Editorial Staff

5 February 2020

Grab, Bento Invest
, a robo-advisory startup in the Asian city-state for an undisclosed sum, according to The Business Times (4 February). 

It reported that the acquisition will allow Grab to offer retail wealth management and investment solutions to its users, drivers and merchants via its app.

As a result of the takeover, Bento will be rebranded as GrabInvest, with products expected to be launched on the Grab app in the first half of the year in Singapore, the report said. Products will also be launched to other markets in Southeast Asia.

The report said that GrabInvest aims to offer cash management and portfolio-based financial solutions and will operate under a retail wealth management capital markets services licence issued by the Monetary Authority of Singapore.