Last year, Grab has raised $2 billion investment, whereas Toyota Motor Corp., announced to invested as much as $1 billion in the ride-hailing provider. Toyota has been joined by a slate of leading global financial institutions such as Macquarie Capital, OppenheimerFunds, Ping An Capital, Mirae Asset – Naver Asia Growth Fund, Cinda Sino-Rock Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners, and other investors.
This investment by Toyota is the largest-ever by an automotive manufacturer in the global ride-hailing sector, and brings Grab closer to achieving its vision of becoming a one-stop mobility platform in Southeast Asia.
The oprator said, this investment allows Grab to further expand its range of O2O services, such as GrabFood and GrabPay, deeper into the region. Grab operates in 217 cities across eight Southeast Asian countries and offers users safe and affordable transport, food and package delivery, mobile payments and financial services through its Grab mobile app.
As today, the Grab app has been downloaded into over 100 million mobile devices, giving passengers access to over 6.6 million drivers and agents, and the region’s largest land transportation fleet delivering over 6 million rides per day.
Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services. Grab’s food delivery service, GrabFood, is the only food delivery company operating across Malaysia, Singapore, Vietnam, Indonesia, Philippines and Thailand.
In Indonesia, throughout 2018, Grab has expanded its services to 222 cities across the archipelago, from 12 cities in early 2017. In line with its business expansion, Grab currently leads the ride-hailing market in Indonesia with 60 percent of market share in the two-wheel segment and 70 percent of market share in the four-wheel segment.
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