Singaporean startup Grab operates the namesake platform for mobile payments, taxi order, food delivery and other services. The startup plans to raise USD 300m to USD 500m to develop its financial services section.Bloomchain.ru reports citing Reuters that Grab is negotiating with British financial conglomerate Prudential PLC, Hong Kong’s largest insurance company AIA Group Ltd and other potential investors.Founded in 2012, Grab has gone from a taxi order service to the operator that provides a whole range of services including financial ones. In January 2019 the startup entered into the digital insurance market and in February 2020 it purchased technological firm Bento, which offers automated management services for investment portfolio.The purchase of Bento, which was renamed Grabinvest and added to the Grab Financial Group, enabled the startup to launch investment and capital management services. In August 2020 the startup announced a new range of consumer products, which includes service for micro investments and wage program.Grab has raised funds for its fintech branch twice so far. In February 2020 the startup raised USD 856m in the investment round led by Japanese holding Mitsubishi UFJ Financial Group. In August of the same year Grab raised USD 200m from Stic Investment.According to Reuters, the sides could read an agreement on new investment as soon as in October. The insurance actors will probably secure the half of target investments, which are to be distributed between several funding rounds. Reuters’ sources believe that the investors value Grab Financial Group at USD 2bn initially.Support from Prudential and AIA will allow Grab to consolidate its position in the financial services market and help it get a banking license in Singapore. In December 2019 Grab merged with Singtel (the startup now owns 60% of the telecom’s shares) and applied for the complete license for digital banking in Singapore.The partner of Fintech section is Tweet Views 40551