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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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 by Tiger Global Management and GGV Capital, the people said, asking not to be named as the matter is private. It wasn't clear if the money was coming from the Japanese company itself or its yet-to-close SoftBank Vision Fund.
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