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Grab acquires robo-advisory startup?

Feb 04, 2020

Acquisition of Bento enables Grab to bring retail wealth management and investment solutions to its ecosystem of users, driver-partners, and merchant-partners

Grab and Bento

Grab acquires robo-advisory startup. Source: shutterstock.com

Grab announced the acquisition of Bento Invest, allowing Grab to offer more solutions to users, driver-partners, and merchant-partners, within its app.

Due to the acquisition, Bento will be rebranded as GrabInvest with products launched on the Grab app in the first half of 2020.

GrabInvest aims to democratize access to retail wealth management products. This way, people across Southeast Asia would get the opportunity to save and invest in financial products, traditionally limited to affluent individuals and institutional investors.

What is more, GrabInvest plans to adopt a low-cost model, allowing users to transact on a platform they are familiar with. It’s transparent due to having full disclosures on fees with zero hidden elements.

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 democratizing access to affordable financial solutions that will help them achieve the financial stability they need well into their retirement years 
Reuben Lai, Senior Managing Director of Grab Financial Group

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Tags: # Grab

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