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

Krishna Mali
By: Krishna Mali

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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.

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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.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.
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