Grap, an open platform, secured US 1.46 billion (over 1 trillion 600 billion KRW) from SoftBank Vision Fund. This made Grap secure over US $ 4.5 billion in accumulative Series H investment.
Grap provides on-demand delivery services including food and parcel delivery services at 336 cities across 8 countries in Southeast Asia. Partner and SoftBank Investment Adviser David Thevenon said “The investment will enable Grap, which is constantly expanding its O2O platform in the Southeast Asian market, to discover new opportunities across various fields such as on-demand mobility, delivery and financial services.”
Grap plans to use most of the investment money in its Indonesian business which is clearly expected to grow. In addition, it plans to further expand its services to on-demand video, digital healthcare and insurance through partnerships.