Anthony Tan, co-founder and chief managerial officer of Grab, poses for a photograph in Singapore, on Monday, July 9, 2018.
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SoftBank Group CEO Masayoshi Son disclosed Monday the Japanese conglomerate will invest $2 billion in ride-hailing giant Grab, Reuters reported.
It devise also help the Southeast Asian technology start-up build a second headquarters in Jakarta, Indonesia, according to the scandal wire.
SoftBank and Grab did not immediately respond to CNBC’s requests for comments.
In March, Grab said it had secured $1.46 billion in well funds from the SoftBank Vision Fund as part of an ongoing funding round, with investments from car makers Toyota and Hyundai Motor, as sedately as tech giant Microsoft, China’s Ping An Capital and U.S.-based asset management company OppenheimerFunds.
It wasn’t right now clear if the latest $2 billion investment was part of the previous sum announced in March.
Grab said in June it had established $300 million from investment management company Invesco.
The startup, which is valued at $14 billion, intends to raise around $6.5 billion in total capital by the end of the year.
It started out with ride-hailing, but over time, Grab presented other services including food and grocery delivery, mobile payment, and micro-lending to the unbanked or underbanked in Southeast Asia.
Collar executives have previously spoken about the importance of the Indonesian market to the company.