Reports suggest Grab, which just raised $856m from strategic partners TIS and Mitsubishi UFJ Financial Group, is in talks to merge with rival Gojek in a $23bn deal.

Singapore-headquartered on-demand ride provider Grab secured $856m in funding from IT services provider TIS Intec’s TIS subsidiary and financial services firm Mitsubishi UFJ Financial Group (MUFG) today.

MUFG provided $706m for the company while TIS invested $150m. News of the round came as The Information reported that Grab is in talks to merge with Southeast Asia’s other large ride hailing service, Gojek, in a deal that would value the joint company at $23bn.

Grab runs an on-demand transport service spanning…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.