Digital Banking & Payments

GXS Bank Receives Fresh US$60 Million Boost from Grab

GXS Bank Receives Fresh US$60 Million Boost from Grab

In a significant move reinforcing its commitment to the burgeoning digital banking sector, GXS Bank, a pioneering digital lender supported by the Southeast Asian technology giant Grab and telecommunications leader Singtel, has recently secured an additional US$60 million capital injection. This latest funding round underscores the strategic importance its key shareholders place on the bank’s growth and expansion within the competitive financial landscape. Regulatory filings reveal that the capital infusion was meticulously channeled through A-5 DV Holdings Pte Ltd and SFG Digibank Investment Pte Ltd, both wholly-owned subsidiaries of Grab Holdings. These entities subscribed to new ordinary shares on September 15, marking a clear and direct investment from Grab. Specifically, A-5 DV Holdings acquired 46.35 million shares, while SFG Digibank Investment picked up an additional 30.9 million shares, as detailed in documents submitted to Singapore’s Accounting and Corporate Regulatory Author…

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