Grab takes full stake in US digital finance firm Stash

Payment for a 50.1% equity interest was made at closing.

Grab Holdings Limited has completed its acquisition of 100% equity interest in Stash Financial, Inc., a US digital financial services company.

Payment for a 50.1% equity interest in Stash was made at closing, which took place on 1 July, according to a bourse filing.

Grab will pay the remaining interest at fair market value over three years post-closing.

The group said the deal, announced in February, would add subscription revenue and bring in talent and technology from Stash’s artificial intelligence-powered investing app.

Meanwhile, the acquisition follows Grab’s consolidation of PT Super Bank Indonesia Tbk, or Superbank, into its financial statements after Singtel Alpha Investments Pte. Ltd. transferred its stake in the bank to GXS Bank.

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