GrabTaxi’s Investment Rises to US$ 90 million in 12 months
With Strong Focus on Driver-Passenger Experience GrabTaxi, Southeast Asia’s leading taxi-booking mobile phone app, has completed its Series C round of financing, one of the largest rounds in the history of Southeast Asia. The company has raised a total of approximately US$90 million of venture capitalist funding and loans since within 12 months. The Series C round was led by US-based Tiger Global Management. New investor Hillhouse Capital Management also joined the round with existing investors Vertex Venture Holdings, GGV Capital and Qunar (NASDAQ: QUNR)i. The GrabTaxi mobile app has been downloaded onto more than 2.1 million mobile devices, with more than 400,000 active monthly users in over 17 cities in six countries. Two bookings are made through the GrabTaxi platform every second. GrabTaxi Founder and Group CEO Anthony Tan said, “GrabTaxi has always been selective in choosing our investment partners. As a startup, we value their experience and advice […]
