dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!

Grab Acquires Wealth Tech Start-up Bento To Bring Retail Wealth Solutions To Millions Across Southeast Asia

  • February 5, 2020
Total
0
Shares
0
0
0

Acquisition of Bento enables Grab to bring retail wealth management and investment solutions to its ecosystem of users, driver-partners and merchant-partners. Bento will be rebranded as GrabInvest; products to be rolled out in South-East Asia, with Singapore as the first market.

Grab Holdings Inc. (“Grab”), Southeast Asia’s leading super app, today announced the acquisition of Bento Invest Pte Ltd (“Bento”), a Singapore-based robo-advisory start-up for an undisclosed sum, that will allow Grab to offer retail wealth management solutions to users, driver-partners and merchant-partners, via the Grab app.

With the acquisition, Bento will be rebranded as GrabInvest with products launched on the Grab app in the first half of the year in Singapore. GrabInvest will be a new core business vertical under Grab’s financial services arm, Grab Financial Group, led by Chandrima Das, founder and CEO of Bento. Grab Financial Group currently offers financial services across Southeast Asia in payments (GrabPay), rewards (GrabRewards), lending (GrabFinance), and insurance (GrabInsure) to micro-entrepreneurs, small business owners, driver-partners and users across Southeast Asia.

GrabInvest aims to democratise access to retail wealth management products, in order to provide millions across Southeast Asia with the opportunity to save and invest in financial products traditionally limited to affluent individuals and institutional investors. GrabInvest aims to make wealth management services accessible by adopting a low-cost model, easy to understand by allowing users to transact on a platform they are familiar with, transparent by having full disclosures on fees with zero hidden elements, and trusted by adhering to consumer protection standards outlined by our Monetary Authority of Singapore (MAS) Capital Markets Services  (CMS) license.

Reuben Lai, Senior Managing Director of Grab Financial Group, said: “In Southeast Asia, there is a lack of access to affordable wealth management products and retirement planning solutions for most people. As we face an increasingly volatile and uncertain economic environment, it is imperative for Southeast Asians to acquire the tools and knowledge to protect their future by sustainably building wealth for themselves and their families. The launch of GrabInvest brings us a step closer to democratising access to affordable financial solutions that will help them achieve the financial stability they need well into their retirement years.”

Philip Chew, Head of Investments and New Businesses, Grab Financial Group, said: “We are excited to welcome Chandrima and her team to the Grab family. Bento has been recognised as a leading wealth-tech platform and proven to be an industry leader in democratising retail wealth solutions in the region. Now, from within Grab’s everyday app, we will build on our fintech capabilities to transform what is currently an underserved retail wealth sector in Southeast Asia to one that is powered by a 24/7 user engagement platform and best-in-class financial models, portfolio management and risk management technologies. All of this, while remaining affordable, accessible and trusted by our partners and users.”

Chandrima Das, Founder and CEO, Bento, and Grab Financial Group’s new Head of Wealth Management also spoke to the acquisition: “The Bento and Grab Financial teams share a common vision to democratise investments for our customers irrespective of their wallet size. I am grateful for the opportunity to be part of the Grab ecosystem as we work together to make wealth management solutions serve the financial needs of millions of Southeast Asians.”

Bento’s proprietary digital wealth platform includes client onboarding, and portfolio construction and rebalancing supported by robust risk management capabilities. The platform is built and backed by a team of seasoned asset management and banking professionals who will join the GrabInvest team. Bento’s founder, Chandrima Das, has over two decades of leadership experience in banks and asset managers across Asia and the UK. Chandrima was formerly Managing Director at Bank of Singapore and prior to that, CEO of ING Investment Management.

GrabInvest will operate under a retail wealth management capital markets services license in Singapore, namely the MAS Retail Licensed Fund Management Company (LFMC) license.

GrabInvest aims to offer cash management and portfolio-based financial solutions to its users, driver-partners and merchant-partners, with Singapore as the first market to roll-out.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Bento
  • Grab
  • GrabInvest
  • Southeast Asia
dotlah.com

Previous Article
  • Cities

Where US Commuters Spend The Most Time Stuck In Traffic

  • February 5, 2020
View Post
Next Article
  • Lah!
  • Technology

IPOS And SGX Launch Pilot Programme To Help Companies Identify And Communicate The Value of Intangible Assets Information To Stakeholders

  • February 5, 2020
View Post
You May Also Like
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
dotlah-smartnation-singapore-lawrence-wong
View Post
  • Artificial Intelligence
  • Featured
  • Features
  • Lah!
  • Machine Learning
  • Technology

Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong

  • Dean Marc
  • October 9, 2024
dotlah-singapore-ndp-2024
View Post
  • Lah!

Here’s what to expect for NDP 2024!

  • dotlah.com
  • August 9, 2024
dotlah-singapore-airlines_may_21-1716298816
View Post
  • Lah!

Severe turbulence during Singapore Airlines flight leaves several people badly injured. One man died

  • majulah
  • May 22, 2024
dotlah-pm-lee-lawrence-wong-9656d4cd-1fa4-40ed-905d-e19e639b8476_728802dd
View Post
  • Lah!
  • People
  • Politics

End of Lee Era for Singapore as PM Steps Down

  • dotlah.com
  • May 16, 2024
DPM Lawrence Wong will be Singapore's fourth prime minister on May 15. ST PHOTO: LIM YAOHUI
View Post
  • Lah!
  • People
  • Politics

7 things to know about Singapore’s next prime minister Lawrence Wong

  • dotlah.com
  • May 15, 2024
When asked about his leadership style, DPM Lawrence Wong said he will be open and consultative, but he will not shirk from doing what is necessary for Singapore's future. ST PHOTO: LIM YAOHUI
View Post
  • Features
  • Lah!
  • People
  • Politics

‘We are prepared to relook everything’: Lawrence Wong on a changing society and his hopes for S’pore

  • dotlah.com
  • May 15, 2024


Trending
  • 1
    • Lah!
    Singapore’s GDP Growth Expected To Be At 0%-1% For 2019
    • August 13, 2019
  • We are all collateral damage 2
    • People
    From Suffering To Uprising. The Inevitability Of Violent Protests In Societies We Are Creating.
    • July 1, 2023
  • Unleashing creativity 3
    • Features
    • People
    Unleashing Creativity In Environmental Global Political Economy. Part 1.
    • July 4, 2023
  • 4
    • Technology
    M1 And SUTD Unveil Joint Research To Advance 5G Robotics Technology And Innovation
    • July 27, 2019
  • 5
    • Cities
    • Lah!
    JTC & Shell To Explore Semakau Solar Farm To Meet Singapore’s Growing Clean Energy Needs
    • June 18, 2021
  • 6
    • Lah!
    • Technology
    Connecting Our Content Creators To Global Media Players And Audiences Singapore Media Festival 2021: Connecting Our Content Creators To Global Media Players And Audiences
    • October 27, 2021
  • 7
    • Cities
    • Lah!
    Singapore Airlines First In World To Pilot IATA’s Travel Pass App
    • March 10, 2021
  • 8
    • People
    The States With The Most DACA Recipients
    • June 27, 2020
  • 9
    • Lah!
    Sunseap’s Solar Capacity In Singapore Crosses 300 MWp Milestone
    • May 9, 2020
  • 10
    • Technology
    NETS And Singtel Partner To Provide More Cross-Border Digital Payment Opportunities In Southeast Asia
    • August 25, 2020
  • video-call-pexels-artem-podrez-4492134 11
    • Features
    • People
    5 Ways You Can Stay Connected With Others During COVID-19
    • May 6, 2021
  • 12
    • Lah!
    PUB To Lead Singapore’s Coastal Protection Efforts
    • March 5, 2020
Trending
  • Camping 1
    The Summer Adventures : Camping Essentials
    • June 28, 2025
  • 2
    Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore
    • June 20, 2025
  • 3
    A Father’s Day Gift for Every Pop and Papa
    • June 14, 2025
  • 4
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 5
    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design
    • June 11, 2025
  • 6
    It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society
    • June 8, 2025
  • 7
    PBBM asks Singapore to invest more in PH renewable energy projects
    • June 6, 2025
  • 8
    Singapore PM Wong arrives in Malacañang
    • June 4, 2025
  • 9
    Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong
    • June 4, 2025
  • 10
    Singapore businesses eye more investments in PH, says PM Wong
    • June 4, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.