Grab Scores a $1.5 Boo‑out from SoftBank
Grab, the Southeast Asian ride‑hailing and delivery juggernaut, just snagged a $1.5 billion boost from Japan’s SoftBank Vision Fund. The windfall will fuel a major push into Indonesia, the home turf of rival Go‑Jek, and help the company keep its services spinning fast.
Rise of the Ride‑Hail Royalty
- Grab’s acquisition of Uber’s regional ride‑hailing and food arm last March gave it a 27.5 % stake in the Singapore‑based firm.
- SoftBank’s fresh injection pushes Grab’s total capital raised over the last 12 months past the $4.5 billion mark.
- New money will power Grab’s expanding finance arm, food & parcel delivery, plus fresh offerings: on‑demand video, digital health care, insurance, and hotel booking services.
Indonesia: The Next Frontier
Grab says the “significant portion” of the SoftBank cash is earmarked for Indonesia, where its revenue almost doubled in 2018. With Go‑Jek already setting up shop in Singapore, Grab’s Indonesian expansion is a high‑stakes game of speed‑and‑scale.
Who’s Funding Grab—And Who’s Screaming About It?
- Investors topping Grab’s board deck include Toyota Motor, Hyundai Motor, Oppenheimer Funds and Microsoft Corp.
- SoftBank’s owner, Masayoshi Son, is the richest man in Japan and firmly backs the vision fund.
- Go‑Jek, meanwhile, has its own war‑chest, pulled together by Google, Temasek (Singapore’s sovereign wealth fund), and Tencent.
The Road Ahead for Southeast Asian Taxi Goods
According to research by Google and Temasek, the region’s ride‑hailing market is projected to hit a whopping $20 billion in value by 2025. Grab’s new funds and multi‑service expansion mean it can ride this wave big and proud.
