Grab operates as a Southeast Asian "super app" combining on-demand transportation, delivery, and financial services. The company said it will use the latest $300M investment to further strengthen its regional presence and unlock more opportunities across those business lines. Grab is also exploring opportunities and collaborations beyond Southeast Asia, including a recent investment and deeper partnership with London-based Splyt. That partnership and an $8M Series A investment in Splyt allow Grab users traveling outside Southeast Asia to book rides through Grab’s platform fulfilled by Splyt partners. The $300M from US-headquartered Invesco brings that firm's total investment in Grab to $703M, which includes $403M that OppenheimerFunds invested in July 2018. Grab previously raised $1.46B from the SoftBank Vision Fund in March 2019 and is targeting $6.5B in total capital between June 2018 and the end of the year. Invesco, which has a presence across several Asian markets, manages approximately $1.1 billion in assets for its clients worldwide. Grab provides an on‑demand O2O mobile platform across Southeast Asia, offering services such as payments via GrabPay, food ordering through GrabFood, parcel delivery with GrabExpress, and ride‑hailing. The company is aiming to expand the range of everyday O2O services and evolve into a regional "super app." It recently launched GrabFresh, an on‑demand grocery delivery service in Jakarta with plans to roll out to other cities later in 2018. Grab said it will use proceeds from its current financing to broaden partnerships and the universe of services available to users. A significant portion of the funds will be invested in Indonesia. The company raised a large financing round (see deal details) to support these growth initiatives. GrabTaxi is a Singapore-based automated, location-based smartphone booking and dispatch platform for the taxi industry in Southeast Asia. Launched in 2012 and led by Anthony Tan, the company operates in 23 cities across six countries: Malaysia, Singapore, the Philippines, Vietnam, Thailand and Indonesia. GrabTaxi raised $350m in this funding round, bringing total funding to over $700m. Backers included Coatue and China Investment Corporation among others. The company is hiring. The platform focuses on taxi booking and dispatch. GrabTaxi, founded in 2012, operates a GPS‑enhanced smartphone taxi‑dispatch service that allows passengers to hail the nearest taxi. The company serves 17 cities across six Southeast Asian countries, including Malaysia, the Philippines, Thailand, Singapore, Vietnam and Indonesia. Tens of thousands of taxi drivers use GrabTaxi’s smartphone technologies to receive bookings, and the app has over 2.5 million downloads and about 500,000 monthly users. GrabTaxi’s stated mission is to revolutionize the taxi industry by creating safer, more reliable rides and improving drivers’ livelihoods. Following rapid growth, the company plans to accelerate regional expansion and leverage partnerships to drive further adoption. GrabTaxi operates a mobile app for booking licensed taxis and has expanded into private car (GrabCar) and motorbike taxi services across 16 cities in Malaysia, Singapore, Thailand, Vietnam, the Philippines and Indonesia. The company has seen its app downloaded more than 2.1 million times, with over 400,000 monthly active users and a claimed network of more than 50,000 drivers. CEO Anthony Tan said the new funding will be used to hire talent to build a world-class app, improve driver loyalty programs and generally grow and expand the service. GrabTaxi has been rolling out new service types and plans to announce an additional city expansion before month-end. The company has not disclosed revenue or profitability timelines. It views increased competition, including from Uber, as a way to drive consumer awareness and improve service levels for drivers.

Total raised

$3.0B

Funding rounds

7

Latest round

Equity

Latest activity

Jun 2019