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SoftBank Back to Main Investor Grab in Funding of the Latest Round


AskedBoss.com - Grab has just announced Didi Chuxing and SoftBank Group Corp as the main investors of the latest round of funding.

Funds to be invested in funding Grab's latest phase amounted to USD 2 billion.

The plan Grab will increase funding up to USD 500 million so that total USD 2.5 billion.

This is the highest single funding amount in Southeast Asia. It has become a commitment of DiDi and SofBank to continue to support Grab's viso.

Grab has 95% market share in taxi bookings through third parties and 71% for private vehicle bookings in Southeast Asia.

In order to strengthen itself as a market leader, Grab plans to invest in GrabPay, their mobile payment solution.

DiDi Chuxing and SoftBank Group Corp.

DiDi Chuxing itself has been known as the most comprehensive and leading mobile transportation service platform in the world...

DiDi CEO, Cheng Wei affirms DiDi and Grab's commitment to continually innovate on local solutions to the threat of global urban development.

"We look forward to working with communities and policymakers across Asia to achieve tremendous opportunities in the future transport revolution," continued Cheng Wei.

Meanwhile, Chairman and CEO of SoftBank Group Corp., Masayoshi Son said it will continue to strengthen the partnership and continue to support the Grab partnership.

Softbank Group Corp. Is a global technology leader driving the Indom- eration Revolution.

"Grab uses technology to respond to transportation and payment challenges. This is the biggest challenge in Southeast Asia, "said Masayoshi Son.
SoftBank Back to Main Investor Grab in Funding of the Latest Round
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