Monday, 24 July 2017

Uber rival Grab to raise $2.5bn in fresh investments

South East Asian ride-hailing firm Grab has raised $2.5bn (£1.9bn) in fresh funds, in what it says is the region's biggest ever round of investment.

Didi Chuxing, which effectively ended Uber's ambitions in China, is one of the key backers.

Along with Japan's Softbank, Didi will invest up to $2bn. The other $500m will come from new and current investors.

Operating in seven countries, Grab is South East Asia's most popular ride-sharing firm.

BBC    News.

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