SoftBank-backed Grab targets US$2bil more in funding this year in big business push

SINGAPORE: Grab aims to raise an additional US$2bil this year as it ramps up expansion, its chief executive said, just weeks after announcing over US$4.5bil of funding in what has become South-East Asia’s largest round of private financing.

“We expect to raise US$6.5bil of total capital this year,” Anthony Tan said yesterday in an interview, in which he laid out Grab’s strategy to become an app-for-everything in South-East Asia – home to about 650 million people.