Grab raises US$750 million in equity financing; increases total capital position to over US$1 billion
Grab, the leading ride-hailing platform in Southeast Asia, has raised US$750 million in equity financing, increasing its total capital position to over US$1 billion. With this transaction, Grab becomes the best capitalized technology startup and mobile internet company in Southeast Asia. SoftBank, a long-term strategic partner to Grab, led an expanded, oversubscribed round, with participation from both new and existing investors.
This will put Grab at a valuation of at least $3 billion, making the company the second largest company in Southeast Asia by valuation. Garena, an internet and mobile platform company in Southeast Asia has a valuation of $3.75 billion.