Grab Eyes More Funds After Raising $1 Billion for Indonesia Expansion
Grab announced last Thursday that it was able to raise $1 billion in new funding for its foray into the Indonesian market which is considered to be an emerging battleground for tech firms looking to capture a population of over 250 million.
The Singapore-based ride-hailing giant says it is looking to raise more funds, but did not specify how much. President Ming Maa added that the firm was seeing significant demand from investors globally, both financially and strategically.
The firm, which is transforming itself into a consumer technology group, says that the fresh funds will be used to expand its online-to-offline services.