Bangkok--21 Oct--BrandNow
GrabTaxi’s combined investment rises to approximately US$ 90 million within 12 monthsContinues Focus on Driver/Passenger Experience
GrabTaxi, Southeast Asia’s leading taxi-booking mobile phone app, today announced that it 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 (approx. Baht 2.8 billion) 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) .
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.
The Right Partners
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 in helping us to revolutionise the taxi industry in Southeast Asia.”
“We look forward to the opportunity to learn from our new investors like Tiger Global and Hillhouse Capital. Vertex Venture Holdings, GGV Capital and Qunar are trusted partners and we’re very honoured they have continued to show their support as we drive towards our ultimate goal of changing the way more than 600 million people travel in the region”, Tan added.
Extending Market Dominance
GrabTaxi’s top priority is to provide a high quality experience for both drivers and passengers.
The company will use the financing to launch new community programmes to reward its drivers and passengers. In addition, GrabTaxi will continue to enhance the app and expand its IT engineering and data analytics team for further growth and expansion in the six markets in which it operates. In addition, GrabTaxi passengers can look forward to exciting new app features and collaborations with market partners that aim to significantly enhance the user experience in all its markets.
“We have made phenomenal progress in the past 12 months and our Series C funding is a great testament that we are moving in the right direction. Both the passengers and drivers will benefit from this as not only are we looking to improve the passenger and driver experience through the app but we are also looking at developing various community programs such as the GrabTaxi Foundation. I am immensely excited for the next 12 months,” said Vee Charununsiri, Deputy General Manager of
GrabTaxi (Thailand) Co., Ltd.
For further media enquiries, please contact:
Brand Now Co., Limited, www.brandnow.asia T: +66 2 662 5622