SoftBank Likely to Close $1.5 Billion Investment in Grab

A source revealed this week that SoftBank’s Vision Fund is about to close a $1.5 billion deal with Grab, a threefold increase from a previously expected $500.

The southeast asian ride-hailing firm had previously raised $6.5 billion from SoftBank, Toyota, and Chinese ride-hailing company Didi Chuxing. The fund raising put Grab’s value at around $11 billion.

Grab said that it will use part of the funds on its expansion in Indonesia, where it has partnerships with fintech company OVO and e-commerce platform Tokopedia.

Source: Reuters

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