Live
- India lift inaugural U19 Women’s Asia Cup
- No place for Stokes as Root returns to England’s squad for India ODIs and CT
- A year of political earthquake
- Penugonda stresses need for cultural renaissance
- IG inspects police stations at Chirala, Karamchedu
- Sandard Glass raises Rs40 cr in pre-IPO deal
- Options data flags rising volatility
- Contrarians in sight amid low volumes-led pull back rally
- ‘Ksheera Sagara Madhanam’ enthrals audience
- Nifty back below 200EMA/ 200DMAs
Grab targets another USD 2 billion funding this year: CEO
Grab is also looking to make at least six investments or acquisitions this year.
Singapore: Grab expects to raise another USD 2 billion from strategic investors this year, the CEO of Southeast Asia's biggest ride-hailing firm said, just weeks after it announced funding of over USD 4.5 billion in the region's largest private financing round.
"We expect to raise $6.5 billion of total capital this year," Anthony Tan told Reuters in an interview on Monday.
The funding will be a mix of debt and equity, the co-founder said, adding that Grab is looking to rapidly expand its business in financial services and food delivery.
Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.
Grab's massive financing round started shortly after it bought Uber's Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 per cent stake in Grab's business.
