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

Sat, Mar 25, 2017 - 5:50 AM

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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Grab raising over US$1.5b in new funding round

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