APAC Outlook

Grab Raises $2 Billion in Latest Funding Round

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Singapore-based Grab, a leader within the ride-hailing market across Asia, has raised a further $2 billion in its latest round of financing.

A range of new and existing global investors took part, including Toyota Motor Corporatio­n, Lightspeed Venture Partners, OPPENHEIME­RFUNDS and Ping An Capital.

“We are honoured to welcome these top‐tier financial institutio­ns into our roster of strategic investors and partners,” said Ming Maa, President of Grab.

The funds will provide Grab with the necessary backing to continue its growth strategy, particular­ly through facilitati­ng its further expansion into Indonesia and broadening its service portfolio that now includes Grab Pay, Grab Food and Grab Express.

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