SA国际传媒

Singapore-based ride-hailing startup has raised more than $700 million from Japan鈥檚 largest bank, according to a new report from .

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wants to plug the institution鈥檚 financial services to Grab鈥檚 users, Bloomberg reported, citing a person familiar with the deal.

Although Grab started off as a ride-hailing app, its services now go far beyond that. The company wants to be an 鈥渆veryday everything鈥� app–it currently lets users book rides, meals and hotels, and offers payment services, among other things.

The company operates throughout southeast Asia, including in Indonesia, Malaysia, Cambodia, Myanmar, Thailand, Vietnam and the Philippines.

The new investment makes Grab extremely well-capitalized. It last raised an extensive Series H round in 2018 and 2019. In 2019, it received a investment from the , followed by a infusion with as the lead investor as part of the Series H round.

With the new funding from Mitsubishi UFJ, Grab鈥檚 total funding comes to about , according to SA国际传媒.

While it attracts large amounts of venture capital, Grab also invests. Last year it participated in 鈥� $8 million Series A.

Grab is backed by firms including SoftBank Vision Fund, Invesco, , and automakers like and .

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