Southeast Asian ride-hailing giant Grab said Wednesday it has secured $1.46 billion in new funds from the SoftBank Vision Fund.
In its current funding round, Grab has raised more than $4.5 billion with investments from car makers Toyota and Hyundai Motor, tech giant Microsoft, China's Ping An Capital and U.S.-based asset management company OppenheimerFunds.
Following the fresh financing from the Vision Fund, Grab's valuation now stands at $14 billion, according to a source familiar with the matter.
Grab President Ming Maa said in a statement the company has seen "overwhelming shareholder support in our current fundraising round, with strong interest both in terms of capital invested and the quality of strategic partners."
He added Grab continues to "receive new investor interest" and that it looks forward to "welcoming more global industry leaders as partners in 2019."
The current funding round started after U.S. ride sharing giant Uber sold its Southeast Asia business to Grab and acquired a 27.5 percent stake in the business, according to Reuters.