SoftBank nearing deal to invest $500m in ride-hailing firm Grab

SoftBank nearing deal to invest $500m in ride-hailing firm Grab

SoftBank Group Corp is closing in on a deal to invest about $500 million in Grab as part of roughly $1 billion that Southeast Asia’s biggest ride-hailing firm is seeking in its latest funding, sources with knowledge of the matter said.

Six-year-old Grab has garnered more than $6 billion in total funding, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp. After its last funding a few months ago, Grab was valued at around $11 billion.

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