Grab's funding round reaches $2bn, Ping An invests

Ride hailing platform Grab announced it has raised $2bn for its most recent funding round, following a $1bn investment from Toyota Motor Corporation.

It has now been revealed that joining Toyota in the investment will be Ping An Capital, Oppenhemier Funds, Lightspeed Venture Partners, Vulcan Capital and many other financial organisations.

See also:

Toyota to invest $1bn in Grab  

Grab adds in-car consumer goods service

Read the latest Asia edition of Business Chief

Grab’s president, Ming Maa, stated: “We are honoured to welcome these top-tier financial institutions into our roster of strategic investors and partners who are keen to partner with us to capture the region’s booming growth.”

Having previously bought out main rival Uber in the Southeast Asia region, the Singaporean firm now intends to use its funding to expand the range of services available on its app.

It will also make efforts to become more competitive in the Indonesian market, where is rivals established local firm GoJek.


Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy