Ride-hailing app Grab has raised $3bnm in a Series F fundraising round led by prior investor and telecoms company Softbank. The company is now reportedly valued at $750, according to TechCrunch. Grab previously raised $350m in August 2015, and one of its new backers is likely to be Didi Kuaidi, a Chinese transportation network company. Grab is the largest rival to Uber in Southeast Asia, operating in six countries with 400,000 drivers and 21 million app downloads. The funds will be used to make its in-app payment system, GrabPay, available to third parties.
Ride-hailing app Grab has raised $750m in a Series F fundraising round led by prior investor and telecoms company Softbank. The company is now reportedly valued at $3bn, according to TechCrunch. Grab previously raised $350m in August 2015, and one of its new backers is likely to be Didi Kuaidi, a Chinese transportation network company. Grab is the largest rival to Uber in Southeast Asia, operating in six countries with 400,000 drivers and 21 million app downloads. The funds will be used to make its in-app payment system, GrabPay, available to third parties.