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Business deals

Ride-hailer Grab on track to raise another $1bn

SoftBank looks to invest another $500m in Southeast Asia's largest unicorn

Founded in 2012 in Malaysia, Grab has raised some $6 billion so far. The enthusiasm of investors is an indication of its huge growth potential.   © Reuters

SINGAPORE -- Southeast Asia's largest ride-hailing operator Grab is on track to raise another $1 billion from investors by the end of this year, in what is to be a fresh bout of fundraising for the region's biggest "unicorn," or billion-dollar startup, the Nikkei Asian Review learned Friday.

Six-year-old Grab has succeeded in attracting more than $6 billion in total funding, led by Japan's SoftBank Group and Chinese ride-hailing company Didi Chuxing. With the new round of fundraising, Grab will have raised $3 billion this year alone, including $1 billion from Toyota Motor.

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