Grab Holdings Inc. (“Grab”) announced plans for its rapid expansion in the region, and now expects to raise US$6.5 billion of total capital by the end of this year.

Grab will also seek to invest aggressively, with a commitment to make at least 6 investments or acquisitions across the region this year. Underpinning Grab’s growth is the backing of SoftBank and other key strategic investors who have invested over US$4.5 billion in Grab’s current Series H round. Last month, Grab secured US$1.46 billion investment from the SoftBank Vision Fund. Grab’s partnership with SoftBank runs deep, and the two companies have been working together since 2014.