Grab rival Be Group gets US$60 Million loan for Vietnam expansion


Picture from Vietnam News/ANN

HANOI, Sept 5 (Bloomberg): Vietnamese ride-hailing startup Be Group JSC said it has received a loan facility of at least US$60 million as it seeks to further challenge Grab Holdings Ltd. in the Southeast Asian country.

The loan from Deutsche Bank AG includes a provision that would allow financing to increase to as much as US$100 million, Be Group’s Chief Executive Officer Vu Hoang Yen said in an interview in Hanoi.

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Grab , Rival , Be Group JSC , Vietnam , Expansion Plans , Loan

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