Grab's new investors hope to catch a ride on its regional growth

The latest infusion of cash values the ride-hailing app at around $11 billion. Its expanded war chest will be put to work mainly in Indonesia where rival Go-Jek is revving up investment.

Southeast Asia's Grab said it has raised another $1 billion in its ongoing round of funding from investors looking to the ride the coattails of the online-to-offline (O2O) platform's regional growth.

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