Grab Holdings has received additional funding from Tokyo Century Corporation, taking total investments by the Japanese financial services company in the Southeast Asian ride-hailing company to US$175 million.
Tokyo Century entered into an agreement to invest in Grab Rentals, according to a statement by the Japanese company on Monday (7 January). It did not specify the amount of its latest investment in the Grab unit.
With the investment, Grab Rentals will be expanding its product offerings including flexible-term rentals and an upcoming electric vehicle fleet, the statement said.
Tokyo Century had previously announced it was investing in Grab in January 2018 and December 2016, without announcing financial details.
A Grab spokesperson told Yahoo News Singapore that the company has raised US$3 billion for its series H funding.