$14 billion in the wake of getting major money support from SoftBank

Southeast Asia's most mainstream ride-hailing organization is getting a $1.5 billion money help from SoftBank's gigantic tech support as it looks to fortify its quality over the district.

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Singapore-based startup Grab said Wednesday that it means to utilize the cash to add more administrations to its application, which as of now goes well past simply ride-hailing. It additionally plans to put resources into Indonesia, where it's contending forcefully against its littler opponent Godek.

The most recent financing esteems Grab at about $14 billion, as per an individual acquainted with the organization. That is up from a valuation of $11 billion a year ago.

Softbank's (SFTBF) $100 billion Vision Fund is as of now a huge financial specialist in Grab and other significant ride-hailing organizations, for example, Uber. Driven by SoftBank's originator and CEO, Masa Son, the Saudi-sponsored support has turned into a key player in the worldwide tech industry, emptying huge totals into new businesses like WeWork.

A representative for Grab declined to remark on what level of the organization's offers the Vision Fund presently claims. SoftBank didn't react to a demand for input.

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