MUFG and TIS to invest $856m in SoftBank-backed Grab.

Mitsubishi UFJ Financial Group, a Japanese bank holding and financial services company, and TIS, an IT services firm, agreed to invest $856m in SoftBank-backed Grab, a Singapore based transportation network company. The funding will be used to offer lending, insurance and wealth management products and services for Southeast Asian consumers and small and medium-sized enterprises. “MUFG’s investment into Grab is a vote of confidence in our super app strategy and our ability to build a long-term, sustainable business,” Ming Maa, Grab’s President.