Grab lands $1.46 billion investment from SoftBank’s Vision Fund; now valued at $14 billion

Grab, the Southeast Asia’s ride-hailing giant, continues to rake billions of dollars investments with no sign of slowing down. Just about six months ago, we wrote about the company when it raised $200 million from travel giant Booking Holdings. Today, Grab announced it has secured another US$1.46 billion of fresh funding from the Softbank Vision Fund (“SVF”) to advance its super app vision in Southeast Asia, with the aim of bringing more every day services, greater accessibility and convenience to users.

The new capital infusion from SVF brings the total financing secured in Grab’s current Series H round to over US$4.5 billion. Other backers in this round include Toyota Motor Corporation, Oppenheimer Funds, Hyundai Motor Group, Booking Holdings, Microsoft Corporation, Ping An Capital, and Yamaha Motor. Grab will also the funding to expand its verticals such as financial services, food delivery, parcel delivery, content and digital payments, and roll out new services announced in 2018. Built on Grab’s open platform, GrabPlatform, these services include on-demand video, in partnership with HOOQ; digital healthcare, in partnership with Ping An Good Doctor; insurance, in partnership with ZhongAn International; and hotel bookings, in partnership with Booking Holdings.

The massive investment in Grab from publicly traded companies like Toyota and Hyundai, as well as tech giant Microsoft and tech giant Microsoft, is an indication of trust in the company’s direction.

Founded in 2012 by Anthony Tan and Tan Hooi Ling, the Singapore-based Grab is a ride-hailing platform that offers booking service for taxis, private cars, and motorbikes through one mobile. Grab offers a wide range of services through one mobile app and has been driving Southeast Asia forward since 2012. Grab is making transport freedom a reality in eight countries across the region. From simple taxi services to now private car services (GrabCar), motorcycle taxis (GrabBike), last mile delivery (GrabExpress), ride sharing (GrabShare), and food delivery (GrabFood), Grab  offers services in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.

Commenting on the funding, Anthony Tan, Grab’s Co-Founder and CEO said, “SoftBank and the Vision Fund are long-standing strategic investors and we are grateful for their continued support. The investment is a clear statement of belief in our vision to grow Southeast Asia’s technology ecosystem as the region’s Number 1 super app. Looking ahead, we aim to continue improving the lives of many millions of Southeast Asians by providing enhanced income opportunities through our platform, and giving our users more choice and convenience.”

“We have been working alongside Grab for a number of years and are privileged to support the evolution of its user-driven technologies. This investment will help the company explore exciting new opportunities across on-demand mobility, delivery and financial services as it continues to grow its offline-to-online platform across Southeast Asia,” David Thevenon, Partner at SoftBank Investment Advisers, added.

Ming Maa, Grab’s President said, “We have been blessed with overwhelming shareholder support in our current fundraising round, with strong interest both in terms of capital invested and the quality of strategic partners seeking to support the continued development of Grab. We continue to receive new investor interest and look forward to welcoming more global industry leaders as partners in 2019.”