Ride-hailing giant Grab announced today that it has just received an additional investment of US$300 million from Invesco Ltd., a leading global independent investment management company.
This new capital injection puts the company on track to meet its aim to raise US$6.5 billion between June 2018 and the end of this year.
This also brings Invesco’s overall total investment in Grab to US$703 million.
Earlier this year, Invesco also acquired OppenheimerFund, which first invested US$403 million in Grab in July 2018.
Said Justin Leverenz, Team Leader and Senior Portfolio Manager (Invesco Emerging Markets), Invesco: “We are very excited to increase our stake in Grab and support their endeavour of bringing more everyday services, greater accessibility and convenience to users in Southeast Asia.”
“We have been closely watching Southeast Asia and have every confidence in Grab’s ability to unlock new opportunities across on-demand mobility, delivery and financial services in the region.”
Added Ming Maa, President, Grab: “We are grateful for Invesco’s continued support and conviction in our business strategy and market position.”
We remain laser focused on expanding our financial services and mobility-enabled services businesses.
Before this latest round of funding, Grab had raised a total of US$8.8 billion after SoftBank Vision Fund’s US$1.46 billion injection earlier this year.