Grab claims “unlimited” SoftBank support in Gojek battle

The Singapore-headquartered ride-hailing app said it plans to raise $6.5 billion by the end of this year and to ink at least six further deals.

Grab retains the full backing of SoftBank as the ride-hailing firm goes bumper-to-bumper with Indonesian rival Gojek for right-of-way on Southeast Asia’s roads, Anthony Tan, the company's co-founder and chief executive, said on Monday.

And that support could come in various guises including more capital and operational support from SoftBank’s other portfolio companies.

“I met Masayoshi-san last week where he gave his unlimited support to power our growth,” Tan said in a statement, referencing Softbank's influential founder and CEO, Masayoshi Son.  

Softbank's Saudi-backed $100 billion Vision Fund has already invested about $70 billion in tech startups globally...

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