Grab Holdings, the leading ridesharing, food delivery and fintech app in Southeast Asia, has raised $850 million in funding from two major Japanese investors, Mitsubishi UFJ Financial Group Inc. and TIS Inc. 

MUFG will invest $706 million into Grab, and the two companies will co-develop products and services to help address the needs of Grab customers, drivers and merchant-partners. 

TIS, which is a unit of TIS Intec Group, will invest $150 million. The companies will collaborate on enhancing the digital payments infrastructure in the region as well as Japan to enable greater adoption of cashless payments.

"We are excited to work with our partners MUFG and TIS to co-develop financial products and solutions for the region," Ming Maa, president of Grab, said in a statement. "Ensuring greater access to affordable and accessible financial services and products is key to growing financial inclusion in Southeast Asia."