Grab makes foray into retail wealth management with acquisition of robo-advisory Bento Invest

Published on 04 Feb 2020. | Source: theedgemarkets.com

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SINGAPORE (Feb 4): Even as it guns for one of Singapore's two digital full bank licences, ride-hailing app Grab Holdings is taking another step towards becoming a financial player.

The group today reported that it will be entering the retail wealth management sector with the acquisition of Singapore-based robo-advisory start-up Bento Invest for an undisclosed sum.

Bento’s proprietary digital wealth platform includes client onboarding, and portfolio construction and rebalancing supported by risk management capabilities.