Singapore-based ride-hailing major Grab has raised $200 million in fresh funding from Booking.com parent company, Booking Holdings, the startup announced on Monday. As part of the deal, NASDAQ-listed Booking Holdings will offer Grab’s on-demand transport services through its apps and allow users to pay via GrabPay.
The investment is part of a $3-billion ongoing funding round that Grab is seeking to complete by the year-end. It has raised over $2 billion so far, from Toyota, OppenheimerFunds, Lightspeed Ventures Partners and Macquarie Capital. That funding came at a post-money valuation of $11 billion for the Singapore-headquartered firm.