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Home / Business / SoftBank is said to invest two billion dollars in the ride-hailing company Grab

SoftBank is said to invest two billion dollars in the ride-hailing company Grab



Anthony Tan, co-founder and CEO of Grab, poses for a photograph in Singapore, Monday, July 9, 2018.

Bloomberg | Getty Images

SoftBank Group CEO Masayoshi Son said Monday that the Japanese conglomerate will invest $ 2 billion in ride-healing giant Grab, Reuters reports.

It will also help the Southeast Asian technology start building another headquarters in Jakarta, Indonesia, according to the news management.

SoftBank and Grab did not immediately respond to CNBC's comment requests.

In March, Grab said they had secured $ 1

.46 billion in fresh funds from SoftBank Vision Fund as part of an ongoing funding round, with investments from automakers Toyota and Hyundai Motor, as well as the tech giant Microsoft, China's Ping An Capital and the US based asset management company OppenheimerFunds.

It was not immediately clear whether the latest investment of $ 2 billion was part of the previous sum announced in March.

In June, Grab said it had secured $ 300 million from Invesco's investment management company.

The start-up, which is valued at $ 14 billion, is planning to raise around $ 6.5 billion in total capital at the end of the year.

It started riding riding, but over time, Grab introduced other services, including food and grocery deliveries, mobile payments and micro-loans to unbanked or sub-banks in Southeast Asia.

Grab leaders have previously talked about the importance of the Indonesian market for the company.


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