Ride-hail­ing ser­vice Grab to raise US$1 bil­lion

The Myanmar Times - - International Business -

South­east Asian ride-hail­ing ser­vice Grab is plan­ning to raise US$1 bil­lion in fresh fund­ing to bol­ster its lead over US-based ri­val Uber in the re­gion.

A spokesper­son for Sin­ga­pore-based Grab de­clined com­ment on the re­ports, which fol­lowed Uber’s de­ci­sion to sell its busi­ness in China to ri­val Didi and Ja­pan’s Softbank Group Corp are back­ing Grab’s new round of fundrais­ing which could close as early as next week and could ex­ceed $600 mil­lion.

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