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.

The Star Christmas Special Promo: Save 35% OFF Yearly. T&C applies.

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Grab , Rival , Be Group JSC , Vietnam , Expansion Plans , Loan

Next In Aseanplus News

Indonesian govt mobilises massive resources for Sumatra disaster response as more bad weather is feared
Chinese court sentences 27 people for smuggling antimony ingots
'All in the family' - Thaksin-backed party picks another family member as Thai PM candidate
Bondi gunmen were inspired by Islamic State, and also had travelled to the Philippines, Australia police say
Foreign arrivals to Vietnam hit record high despite pollution and flood issues
Singapore-based Allan Wu’s son commissioned as Armed Forces officer, named best physical trainer in his class
Myanmar junta says Suu Kyi 'in good health' after son raises alarm
Cabinet reshuffle: Several existing ministers retained for continuity, to drive economic growth - PM
From Gaza to Thailand-Cambodia; 2025 conflicts test global and Asean diplomacy
Oudomxay Province inaugurates Laos’ largest solar power project

Others Also Read