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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
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.
PHOTO: BLOOMBERG
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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