Grab to raise another $1b in drive for regional dominance

President Ming Maa tells FinanceAsia about why the mobility app needs a fresh capital infusion to build scale across Southeast Asia and how that expansion squares with its route to profitability.

Grab is on track to swiftly raise another $1 billion for its expansion drive across Southeast Asia, boosting the war chest it has built since April to a total of $3 billion, Grab president Ming Maa told FinanceAsia in an interview.

The start-up that forced San Francisco-headquartered Uber to pull back from Southeast Asia started its H-round of fundraising in April. Within four months, it closed on $2 billion dollars of capital from some of the world’s most well-heeled investors, according to a person familiar with the process.

“We’re not finished. We’ll likely get to a $3 billion fundraising round this year,” Maa said.

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