附近上门

On the heels of its $1 billion investment and partnership with Toyota announced in June, Singapore鈥檚 ridesharing darling will announce another $1 billion investment, bringing the Series H round total to $2 billion. According to , the additional infusion of cash will bring the company鈥檚 valuation up to $11 billion.

Follow 附近上门 News on

Backed by and China鈥檚 ridesharing giant , Grab鈥檚 app allows hail transportation services through GrabTaxi, GrabCar, and its carpool service GrabHitch. In addition to its core services, the company GrabAssist, a service for seniors and individuals with disabilities, and GrabFamily, a service for families with small children.

The company currently operates in 225 cities in 8 countries including Singapore, Malaysia, Indonesia, Philippines, and Vietnam.

With to become an 鈥渆veryday superapp鈥� much like Tencent鈥檚 WeChat, Grab has also jumped into other verticals. After Uber鈥檚 regional operation in March, the company migrated the UberEats customers and vendors to its own food delivery program, and officially launched GrabFood in May, according to . Grab has also added bike and car rentals and parcel delivery, and has expanded its payments platform to include in-store purchases with participating vendors. The company other financial services to the platform in the future.

Why raise $2 billion? Regional competition may be heating up. Grab鈥檚 main competitor, Indonesia-based ridesharing company , has raised total and was last valued at $5 billion. The -backed company has superapp ambitions of its own. Its three main overarching services鈥� Go-Jek, Go-Pay, and Go-Life鈥� include verticals ranging from ride hailing, grocery, and pharmacy delivery, to bill payments, at home massages, auto care, and beauty appointments. Go-Jek operates in 50 cities across Indonesia and its platform in Vietnam, Go-Viet, today and plans to expand to Thailand and the Philippines.

If Go-Jek is going to take its deep pockets to the rest of the region, Grab may have little choice but to stock up itself.

Illustration Credit:

Editorial Note: Grab has since confirmed the $2 billion round with 附近上门 News. The post has been updated to reflect that the company is operational in 225 cities.聽