Grab Receives Funding From South Korean Retailer Shinsegae Group’s VC Arm
by techinasia 2021-02-19
Share on
source: Official Website

“Signet Partners, Shinsegae Group’s corporate venture capital firm, announced Tuesday that it had made an investment in the Singapore-based ride-hailing and food delivery app Grab,” reported The Korea Herald.


Details:


  • South Korean retail group Shinsegae Group didn’t disclose the funding amount.

  • One official at Signet Partners said that the VC firm will continue investing in “promising startups” both at home and abroad.


Context:


  • Signet Partners was founded in July last year and has invested in US fashion brand Entireworld, South Korean fashion tech firm Ably Corporation, and lifestyle company Homes.

  • Earlier this month, Grab closed its first senior secured term loan facility of US$2 billion.


source link