Grab to get $691.2m investment from SoftBank: report

Grab eyes to raise $1.38b for its latest funding round in 2018.

Reuters reported that Grab will soon clinch a $691.2m (US$500m) worth of investment from Japanese firm SoftBank, according to sources.

In 2014, SoftBank purchased $345.6m (US$250m) worth of shares from the ride-hailing firm when it began competing with Uber in Southeast Asia. The Japanese firm declined to comment regarding the reportedly impending deal.

Grab targets to raise $1.38b (US$1b) in its latest funding in 2018.

Here’s more from Reuters.

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