Grab is interested in doing business with JD Central, a US$500mil e-commerce joint venture that Central launched earlier this year with China
SINGAPORE: SoftBank Group Corp is nearing a deal to invest US$1.5bil in Grab, three times a previously expected US$500mil, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said.
Six-year old Grab has so far raised over US$6.5bil, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp. After a fund raising in August, Grab was valued at around US$11bil.
