Southeast Asian ride hailing giant Grab to invest US$2 billion in Indonesia using SoftBank funds
- The investment will go toward creating a next-generation transportation network in the country
Southeast Asian ride-hailing firm Grab on Monday said it will invest US$2 billion into Indonesia over five years using capital received from Japanese technology investor SoftBank Group.
The investment will go toward creating a next-generation transportation network and transforming how critical services, like health care, are delivered, Grab said in a statement.
“SoftBank will invest the US$2 billion into the country through Grab, to drive the digitisation of crucial services and infrastructure,” said Singapore-headquartered Grab.
It said it will make the investment from the near US$3 billion capital raised in total from SoftBank.
Earlier on Monday, SoftBank Chief Executive Masayoshi Son told reporters his company was investing US$2 billion in Grab. He did not specify whether he was referring to fresh funds or money previously announced.