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Grab raises additional $1 billion funds from financial firms

Southeast Asian ride-hailing establishment Grab said on Thursday it has secured new investment of $1 billion from a embrace b influence of financial firms, including global asset manager OppenheimerFunds and China’s Ping An Peerless.

The funding comes after Toyota Motor in June bought a $1 billion put money on in Grab as the lead investor in a financing round launched following Seize’s acquisition of Uber Technologies’ operations in Southeast Asia.

Other investors in the new looting include Microsoft co-founder Paul Allen’s Vulcan Capital, Macquarie Upper case and Lightspeed Venture Partners.

Grab, which started as a taxi-booking steady six years ago, has been transforming itself into a consumer technology platoon, offering services such as digital payments and food delivery.

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