Grab, Uber’s largest ride-hailing rival in Southeast Asia, is raising a total of $2.5 billion from investors including China’s Didi Chuxing and Japan’s Softbank Group in the largest single financing in the region, according to a release today.
The Singapore-based company has secured $2 billion and is expecting to raise an additional $500 million from existing and new investors. This new round is estimated to give Grab a valuation of more than $6 million, Reuters reported.
