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Grab raising over US$1.5b in new funding round

Amount sought by the expanding ride-sharing company could be a fund-raising record in S-E Asia

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An advertisement for GrabTaxi, operated by Grab, at the Vivo City taxi stand in Singapore. Grab's new funding round is backed by SoftBank Group Corp.

Hong Kong

GRAB, Uber Technologies Inc's largest rival in South-east Asia, plans to raise more than US$1.5 billion in a new funding round backed by SoftBank Group Corp, people familiar with the matter said.

SoftBank is pledging about US$1 billion in the ride-sharing company backed

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