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09 July 2019

Grab secures $300m to expand presence in South-east Asia

First publishedon www.ITSInternational.com

Grab has received $300 million to further accelerate its expansion in South-east Asia.

Justin Leverenz, senior portfolio manager at Invesco – the company which has put up the cash - says the investment will support Grab in its “bringing more everyday services, greater accessibility and convenience to users in South-east Asia”.

Earlier this year, Grab began working with property developer Sinar Mas Land to deploy electric scooters in Indonesia and to help strengthen BSD (Bumi Serpong Damai) city’s position as an integrated smart digital city.

Last June, Toyota invested $1bn in Grab to collaborate on connected cars and to promote the adoption of new mobility solutions across South-east Asia.

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