What does Grab's SPAC record say about Southeast Asia's tech boom?
Why should investors care about Grabâs SPAC? The ride-hailing and financial services platformâs listing will be seen as a test of Southeast Asiaâs tech start-ups. Grab started life as a ride-hailing company in 2012, before expanding its services to include food delivery and financial products like loans and insurance. In January, its financial arm Grab Financial Group secured $300m in Series A funding, led by South Koreaâs Hanwha Asset Management. This followed a 40% jump in revenues year-on-year in 2020 for Grabâs financial service business, which has distributed ove...
Source: cmcmarkets.com