Southeast Asian ride-hailing service Grab expects to raise $2.5 billion in a record round of fundraising to cement its lead over Uber Technolgies Inc in the region and grow its payments platform. Southeast Asia has become a key battleground for technology start-ups vying for a market of over 600 million people, with a burgeoning middle class as well as a youthful, internet-savvy demographic. Grab's Chinese peer Didi Chuxing and Japan's SoftBank Group Corp, both of which are existing investors, will contribute up to $2 billion to lead the current financing round, it said ...
Grab to get $2.5-bn fund led by SoftBank, Didi Chuxing in battle with Uber
Southeast Asia has become a key battleground for tech start-ups vying for a market of over 600 mn