By Ka Kay Lum
He said, it is part of the core strategy with SoftBank – which is creating a “unicorn farm” by taking the unicorns to the region through Grab’s platform.
Lyft was valued at $15.1 billion in a private funding round announced in June. The company raised $600 million in a round led by Fidelity Management & Research Co.
The fresh competition comes at a time when Chinese ride-hailing company Didi is facing unprecedented regulatory scrutiny in China as well as cash-draining initiatives to fend off rivals like Meituan Dianping.
The upcoming funding round will give Cashlez additional firepower to fight off increasing competition in the mPOS space.
The investment is part of the roughly $1 billion that Grab is seeking to complete an ongoing $3-billion funding round.
Earlier this year, the company acquired Kinerja Indonesia, whose line of businesses includes data center, web hosting and development, network solutions, e-wallet and games.
Tokopedia and Bukalapak will be among e-commerce firms which will ask sellers for identification numbers to operate on their platforms
Traveloka is said to use proceeds from the latest round to expand beyond airline tickets and hotel bookings to activities such as concerts and amusement parks.
SoftBank Vision Fund is reportedly evaluating Delhivery at a post-money valuation of around $1.2 billion.
Grab sees strategic partnerships as a key part of its strategy to build new business areas and deepen existing ones.