Grab has secured over $4.5 billion in funding in its current financing round
Grab secures almost $1.5 billion investment. Source: shutterstock.com
Grab, Southeast Asia’s leading super app, announced it has secured $1.46 billion of fresh funding from the Softbank Vision Fund (SVF). This capital injection from SVF brings the total financing secured in Grab’s current Series H round to over $4.5 billion. Other investors in this round include Toyota Motor Corporation, Oppenheimer Funds, Hyundai Motor Group, Booking Holdings, Microsoft Corporation, Ping An Capital, and Yamaha Motor.
Grab intends to use the funds to advance its super app vision in Southeast Asia, with the aim of bringing more everyday services, greater accessibility and convenience to users. Grab plans to expand its verticals such as financial services, food delivery, parcel delivery, content and digital payments, and roll out new services announced in 2018. Built on Grab’s open platform, GrabPlatform, these services include on-demand video, in partnership with HOOQ; digital healthcare, in partnership with Ping An Good Doctor; insurance, in partnership with ZhongAn International; and hotel bookings, in partnership with Booking Holdings.
