GrabTaxi Calls In Second Funding Round in Two Months
May 30, 2014
GrabTaxi, a mobile app similar to Uber and Lyft operating in Southeast Asia, has raised a Series B round of $15 million, its second financing of $10 million or more in the last two months. The new round was led by existing investor GGV Capital, and received participation from Qunar and Vertex Venture Holdings, the latter of which led the previous financing. Joining the Board is Jixun Foo of GGV Capital. Operating currently in Malaysia, the Philippines, Thailand, Vietnam and Singapore, the company boasts 20,000 registered drivers and plans to expand its operations throughout the region; its mobile hail-a-cab app has been downloaded over 1.2 million times.