Grab Raises $1.46B From Softbank, Boosts Its Valuation To $14B

With the latest funding, Grab aims to provide additional services beyond integrating the city transportation.

Grab Raises $1.46B From Softbank, Boosts Its Valuation To $14B

Grab raises 1.46 billion from Softbank Vision Fund in the latest round of series H funding. Microsoft, Booking Holdings, Hyundai, Yamaha, Tokyo Century and Central Group of Company are the other investors in this round of funding.

From the collected funds, the ride-hailing platform is aiming to develop its services into a daily app for the South Asian market.

When Toyota injected $1 billion at the start of Series H funding, the company’s last valuation stood at $11 billion. According to the sources, after the latest round of funding, the current valuation of the company reached $14 billion.

Singapore headquartered company originally aimed for $2 billion which had been raised to $5 billion. Despite the huge funding, Grab indicated that the funding round has not yet closed and they are still looking for more strategic investors.

The investment came just after the company’s close rival, Uber surrendered its operations in the South Asian region to Grab. The surrender costs 27.5 percent of the company’s stake to Uber.

Grab Raises Funding

Ming Maa, a former Softbank’s executive said,

It seems that the company is not interested in an IPO after the on-going trend of the ride-hailing service providers like Uber and Lyft were listed for the IPO process this year.

Grab is now focusing on diversifying its business. Last year, it started working on providing additional services and partnered with third-party like grocery delivery company HappyFresh, Ping, and streaming service Hook. Currently, it also operates payments and food delivery business beyond ride-hailing services.

Maa further added,

Both Grab and Go-Jek have rapidly amassed millions of users with low pricing in South Asian countries. This shows the huge potential of the ride-hailing industry in the future as well.

Recently Go-Jek, a major ride-hailing player in Indonesia and another close rival of Grab announced that it has bagged $100 million in series H round of funding. They are aggressively expanding their business in South Asia and their current valuation closed at $1 billion.

Manish <span>Content Strategist</span>
Written By
Manish Content Strategist

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Featured Blogs


AI-Driven Chat-Based Hyperlocal Services App Dunzo Raises $3.1M In Series C Funding

2 min read  

Artificial Intelligence-driven on-demand task manager app Dunzo has raised $3.1 million in a Series C funding round. The investment round was led by Milestone Trusteeship Services, N Lakshmi Narayanan (former Cognizant CEI), Monika Garware Modi, and the Raintree Family.The startup which was foun

Featured Interviews


Interview With Coyote Jackson, Director of Product Management, PubNub

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

MAD Team 4 min read  

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

MAD Team 4 min read  

Interview With Gregg Temperley, Founder Of ParcelBroker App

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

MAD Team 4 min read  

Interview With George Deglin, CEO Of OneSignal

MobileAppDaily had a word with George Deglin, the CEO and co-founder of OneSignal, a leading customer messaging and engagement solution, we learn multiple facets related to customer engagement, personalization, and the future of mobile marketing.

MAD Team 4 min read  
MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • BOTH
Join our expansive network, build connections and expand your brand presence.