Ride-hailing firm Grab to get $2.5 billion as firms pump funds into SE Asia startups
Ride-hailing firm Grab expects to raise $2.5 billion to spend extending its lead over Uber Technolgies Inc and expanding into financial services, in the latest injection of funds into Southeast Asia’s burgeoning tech scene. Chinese peer Didi Chuxing and Japan’s SoftBank Group Corp will contribute most of the money, which a person close to the Singapore-based firm said would value it at $6 billion. The investment would be the latest in a Southeast Asian tech startup as major companies seek growth in the region’s huge developing economies with young, tech-savvy demographics.
Source:: https://finance.yahoo.com/news/grab-ubers-seasia-rival-raise-034141811.html
