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FILE PHOTO: Tarin Thaniyavarn, head of Grab Thailand, is photographed on January 3, 2019. (Photo provided)
SINGAPORE: Grab hopes to raise an additional $ 2 billion from strategic investors this year, said the CEO of Southeast Asia's largest brand-name company, just weeks after the announcement. 39, funding exceeding $ 4.5 billion.
"We are planning to raise $ 6.5 billion in total capital this year," Anthony Tan told Reuters during an interview Monday.
The funding will be a mix of debt and equity, said the co-founder, adding that Grab was looking to quickly expand its business in financial services and food delivery.
Grab is also looking to achieve at least six investments or acquisitions this year, said Tan, adding that the Singapore-based company did not need an IPO.
Grab's massive funding cycle began shortly after acquiring Uber's Southeast Asia operations in March 2018 and, in return, Uber acquired a 27.5% stake in Grab.
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