Grab buys Singapore robo-advisory startup Bento

It will be rebranded as GrabInvest to offer cash management solutions.

Grab has acquired Singapore-based robo-advisory startup Bento for an undisclosed amount, according to a news release.

Bento will be rebranded as GrabInvest as a new core business vertical under the Grab Financial Group. GrabInvest will offer cash management and portfolio-based financial solutions, with Singapore as the first market to roll-out. It will operate under the Monetary Authority of Singapore’s (MAS) Retail Licensed Fund Management Company (LFMC) licence.

Chandrima Das, founder and CEO of Bento, will become Grab Financial Group’s new head of wealth management.