Grab seizes US$1bn

Grab said it has secured US$1bn in fresh funding and will consider raising further cash as the ride-hailing firm expands in Indonesia. The company is reportedly valued at US$11bn.

Grab will continue to raise further funding that will add value, according to its president Ming Maa.

TMT Finance exclusively reported in mid-April that Grab was raising another US$1bn, advised by UBS and JP Morgan, after securing US$2.5bn from investors including SoftBank, Didi Chuxing, Hyundai Motor, Toyota Tsusho and SK Holdings.

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Published on 17.10.2018
Published on 17.10.2018
Published on 17.10.2018
Published on 17.10.2018