Grab, the ride-hailing company Uber has a 27% stake in, wants to raise $2 billion

  • Grab expects to raise another $2 billion from strategic investors this year, the CEO of Southeast Asia's biggest ride-hailing firm said.
  • This comes just weeks after it announced funding of over $4.5 billion in the region's largest private financing round.
  • The funding will be a mix of debt and equity, Grab's Co-Founder Anthony Tan said, adding that Grab is looking to rapidly expand its business in financial services and food delivery.
A woman walks past the Grab transport office in Singapore on September 24, 2018.
Roslan Rahman | AFP | Getty Images
A woman walks past the Grab transport office in Singapore on September 24, 2018.

Grab expects to raise another $2 billion from strategic investors this year, the CEO of Southeast Asia's biggest ride-hailing firm said, just weeks after it announced funding of over $4.5 billion in the region's largest private financing round.

"We expect to raise $6.5 billion of total capital this year," Anthony Tan told Reuters in an interview on Monday.

The funding will be a mix of debt and equity, the co-founder said, adding that Grab is looking to rapidly expand its business in financial services and food delivery.

Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.

Grab's massive financing round started shortly after it bought Uber's Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 percent stake in Grab's business.