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Southeast Asia's Grab Mops Up $1b Funding From Financial Firms

by reuters.com posted 11months ago 54 views
* To use significant portion of funds in Indonesia (Adds confirmation of funding, names of investors): SINGAPORE (Reuters) - Southeast Asian ride-hailing company Grab on Thursday said it has secured new investment of $1 billion from a clutch of financial firms, including global asset manager OppenheimerFunds and China’s Ping An Capital. The funding comes after Toyota Motor Corp in June bought a $1 billion stake in Grab as the lead investor in a financing round launched following Grab’s acquisition of Uber Technologies Inc’s operations in Southeast Asia.

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