Uber rival Grab to raise $2.5b from Didi, Softbank in largest SE Asia deal

Grab taxi. Photo: Bloomberg

GrabUber’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.

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