Booking Holdings becomes the largest investor in Southeast Asia's Grab

SINGAPORE (Reuters) – U.S. Travel Firm Booking Holdings Inc.BKNG.O$ 200 million in Southeast Asian ride-hailing firm Grab as part of a strategic partnership between the two companies.

GrabPay digital wallet, according to a statement. Booking Holdings will allow users of its brands' apps to hail Grab vehicles.

Singapore-headquartered Grab, which operates in 235 cities across Southeast Asia, offering services such as food and parcel deliveries, electronic money transfers, micro-loans and mobile payments, besides ride-hailing .

Booking Holdings oversees some of the world's most popular Bookings.com, Agoda.com, KAYAK and Priceline.com. In July, it invested $ 500 million in Chinese ride-hailing app Didi Chuxing.

$ 2 billion has been added to the fundraising of $ 3 billion by the end of this year. Earlier this month, Microsoft Corp.MSFT.O) invested an undisclosed amount in Grab.