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Grab CEO: “We’re targetting another $2 billion funding this year”😶

Southeast Asia’s biggest ride-hailing firm “GRAB” said, just weeks after it announced funding of over $4.5 billion in the largest private financing round in the region ever that it expects to raise another $2 billion from strategic investors this year.

They were expecting to raise a total of $6.5 billion capital this year,”. The funding was going to be a combination of equity plus debt all in a bid to quickly expand their business lines in financial services and food delivery.

Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.

Grab’s massive financing round started shortly after it bought Uber’s Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 percent stake in Grab’s business.

Etukokwu
Apt journalism with a twist of humour is my thing. Representing the news the way it ought to be elicits joy. I dislike generalizations of any kind and enjoy bringing out the relevant aspects of any news item devoid of sentiments. I follow marketing and advertising, IT, Media and Creative trends and also own a group of companies that i run when i'm not being a journalist.