[TechWeb report] May 3rd, according to foreign media reports, Southeast Asia taxi platform GrabGrab is currently in the process of a new round of financing.
People familiar with the matter said the company is negotiating a new $1 billion fund. The company has recently acquired Uber’s Southeast Asian business.
According to people familiar with the matter, the latest round of financing may be worth about $10 billion to the company. This will also be the eighth round of equity financing of Grab since 2012.
Grab, which was established about six years ago, has been developed in 55 cities in 7 countries in Southeast Asia, with more than 930 thousand drivers, providing private cars, motorcycles, taxis and carpool services.