Singapore's Grab Raises $1.5 Billion From SoftBank Fund
- The startup has raised $4.5 billion over the past year
- Grab and Go-Jek are locked in a battle for Southeast Asia
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Leading Southeast Asian ride-hailing provider Grab raised about $1.5 billion from SoftBank Group Corp.’s Vision Fund, bankrolling its effort to expand into new services across the region.
The funding brings to about $4.5 billion the amount of money the company has collected from investors in the past year, it said. SoftBank is already a major backer of the Singapore-based startup, and the latest investment will boost its stake.