SoftBank to Invest $500 million in the Ride-hailing firm Grab


SoftBank has almost closed a deal to invest $500 million in Grab as a part of the $1 billion in funding that the South-Asian ride-hailing firm is seeking at the moment.

The six-year-old firm has garnered a total of $6 billion in funding, led by SoftBank, the Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp. After the latest funding, Grab is valued at $11 billion.

The firm is looking to expand into the consumer business such as food delivery, electronic money transfers as well as mobile payments in order to position the company as a leading provider of consumer technology.

At this juncture of time, Grab is poised for further growth and the SoftBank funding has come just at the right time.


Please enter your comment!
Please enter your name here