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

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 <%$Linker:2External<?xml version="1.0" encoding="utf-16"?><dictionary />000link-external electric scooters falsehttps://www.itsinternational.com/categories/utc/news/grab-launches-e-scooter-service-in-indonesia/falsefalse%>in Indonesia and to help strengthen BSD (Bumi Serpong Damai) city’s <%$Linker:2External<?xml version="1.0" encoding="utf-16"?><dictionary />000link-external positionfalsehttps://www.itsinternational.com/categories/utc/news/grab-enters-smart-city-agreement-with-sinar-mas-land-in-indonesia/falsefalse%> as an integrated smart digital city.

Last June, 1686 Toyota<%$Linker:2External<?xml version="1.0" encoding="utf-16"?><dictionary />000link-external investedfalsehttps://www.itsinternational.com/categories/utc/news/toyota-puts-1bn-into-ride-hailing-service-grab/falsefalse%> $1bn in Grab to collaborate on connected cars and to promote the adoption of new mobility solutions across South-east Asia.