Grab, Singaporean ride sharing app, has raised another $300M from Invesco. According to several sources this new funding will be used to further accelerate it's growth in Southeast area. The latest funding values the company at more than $14B (reportedly).
It was only on March 5, 2019, Grab gobbled a massive $1.5B in it's previous funding of a "Series H" round from SoftBank Group, the deal valued the company at $12.8B. Grab's other investors include some major investors and companies such as Tiger Global, GGV Capital, Microsoft, Toyota, Vertex Holdings, Temasek Holdings and others. The company has raised a total of $9.12B in funding to date.
Founded in 2012, Grab offers services through its app in Singapore and neighbouring Southeast Asian nations Malaysia, Indonesia, Philippines, Vietnam, Thailand, Myanmar, and Cambodia. In addition to transportation, the company offers food delivery and digital payments services via mobile app. In 2016, Grab opened a major development centre and office in Seattle to serve as a tech hub to attract talent in the United States.