In brief: Grab looking to raise another $1b before year’s end

Via FinanceAsia:

Grab is on track to swiftly raise another US$1 billion for its expansion drive across Southeast Asia, boosting the war chest it has built since April to a total of US$3 billion, Grab president Ming Maa told FinanceAsia.

Maa believes Grab’s rapid fundraising is down to its ability to collate consumers’ data, combined with the burgeoning scale of its platform across the fast-growing economies of Southeast Asia.

Grab confirmed that it raised US$2 billion in a Toyota-led funding round last month.