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Aya Lin · · 1 min readIn brief: Grab mulls spinning off payments, financial services biz
- Grab is looking at spinning off its payments and financial services businesses to boost growth as competition intensifies in Southeast Asia’s ride-hailing market, the company’s executives and investors told The Financial Times.
- Southeast Asia’s biggest startup, which is valued at around US$13 billion and backed by Japan’s SoftBank, may raise capital for the two business units separately with a view to spinning off one or both of them at a later date.
- Grab CEO Anthony Tan said that many investors, both financial and strategic, had approached the company.
Editing by Charmaine de Lazo
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