Southeast Asian ride-hailing and food delivery giant Grab has raised more than $300 million from investors led by South Korea’s Hanwha Asset Management Co. Ltd for its rapidly-expanding financial services business.
This past year was a whirlwind for fintech. The pandemic hit many businesses like a hurricane, with lenders suffering the most damage. But as government stimulus checks hit bank accounts and consumers began buying everything online, some of the most popular personal finance apps and payments companies thrived. Digital banking startup Chime tripled its valuation in six months, reaching $14.5 billion in September.
As you mull ordering some last-minute gifts or goodies, chew on this. Amid the frenzied journeys to restock fridges or drop off stocking stuffers, drivers and shoppers for on-demand delivery apps like Shipt, DoorDash and Instacart must navigate a maze of pandemic-induced obstacles, any one of which can shrink their pay.