TRANSPORT & LOGISTICS | Staff Reporter, Singapore

Grab to raise $2.5b in latest financing round

Softbank and Didi Chuxing will invest up to $2b.

Reuters reported that Grab is expecting to raise $2.5b in its latest financing round that will help bolster its leading position in the region and grow its payments platform.

Chinese peer Didi Chuxing and Japan's SoftBank Group Corp, both of which are existing investors, will invest up to $2b to lead the current financing round.

Grab expects to raise an additional $500m, bringing the total to $2.5b in this round, which it said would be the largest-ever single financing in Southeast Asia.

The firm will be valued at more than $6b at the close of this round, according to a source close to the company.

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