Southeast Asian Ride-Hailing Giant Secures $1.46 Billion From SoftBank's Vision Fund

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By Isabelle Li / Mar 07, 2019 08:04 PM / Business & Tech

Photo: VCG

Southeast Asian ride-hailing giant Grab has secured $1.46 billion in funding from SoftBank’s Vision Fund, the company announced on Wednesday.

The investment comes as part of the unicorn’s series H round, which totaled nearly $4.5 billion. Other investors in the round include Toyota, Hyundai, online travel agency Booking Holdings, Microsoft and China’s Ping’an Capital.

Grab said new funds will be used to expand its business in Indonesia, as well as to find new opportunities to diversify the app’s online-to-offline offerings.

Japanese investment group SoftBank and its Vision Fund have been betting heavily on the ride-hailing industry, with investments in startups including Didi Chuxing and its Silicon Valley rival Uber.

Didi is also a major funder of Grab, and has invested in the Singapore-based company alongside SoftBank over multiple rounds of funding.

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