(June 17): Singapore ride-hailing giant Grab held talks to acquire payments provider 2C2P Pte and was turned down, according to people familiar with the matter, a sign of the ambitions Southeast Asia’s most valuable startup has in financial services.

Grab was one of multiple possible bidders interested in 2C2P with preliminary offers ranging up to about US$200 million, said the people, asking not to be identified because the information is private. The payments startup, also based in Singapore, decided instead to raise additional capital to keep expanding as an independent company, they said.

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