Grab scores additional US$300m investment from Invesco

It eyes to raise $8.81b from June 2018 to end-2019.

Grab secured $406.55m (US$300m) boost from global investment management firm Invesco. This puts the Singaporean superapp on track to meet its aim to raise $8.81b (US$6.5b) in total capital between June 2018 and the end of 2019.

Invesco’s additional investment in Grab has hit $952.69m (US$703m) in total. Earlier in 2019, Invesco successfully completed its acquisition of OppenheimerFunds, which first invested $546.14m (US$403m) in Grab in July 2018.

“We have been closely watching Southeast Asia and have every confidence in Grab’s ability to unlock new opportunities across on-demand mobility, delivery and financial services in the region,” said Justin Leverenz, team leader and senior portfolio manager (Invesco Emerging Markets), Invesco.

Also read: Grab secures US$1.46 billion investment from the SoftBank Vision Fund

It was in early 2019 when Grab clinched a $1.98b (US$1.46b) investment from SoftBank Vision Fund.